Covexx Films Walsrode GmbH (D-29655 Walsrode; www.covexx.de) was handed over to its new owner, the Wipak Group (Finland; www.wipak.com), in Bomlitz on 31 May. As reported (see Plasteurope.com 10, 2001), Bayer subsidiary Wolff Walsrode AG (D-29655 Walsrode; www.wolff-walsrode.de) had concluded a purchase contract with Wipak – which belongs to the Finnish Wihuri group (FIN-00570 Helsinki; www.wihuri.fi) – covering part of the film business, and this took effect on 1 June 2001. “Wipak constitutes an ideal partner for the film sector and for strengthening the Walsrode industrial park,” explained Dr. Axel C. Heitmann, Managing Director of Wolff. Wipak will be stepping up its film business and has ambitious plans for expansion.

As the owner of the Wihuri Group, Antti Aarnio-Wihuri told journalists that the fact that all 531 employees are being transferred to Wipak is intended as a clear signal for further growth. Annual sales will be in the range of EUR 110m. Bomlitz/Walsrode is to be expanded into Wipak´s headquarters for Central Europe.

According to Heitmann, Wolff Walsrode´s remaining film business is also to be operated in partnerships or sold outright to suitable partners. Interesting contacts have already been established, but a no-rush approach is being adopted. In line with the new strategic orientation, the chemical business is being considerably expanded, with investments in R&D and also in plants and processes.