Essentra to acquire Innovative Components.

Essentra, a supplier of plastic and fibre products, to acquire Innovative Components, one of the leading manufacturers and distributors of knobs, pins and handles in North America. Financial terms were not disclosed. Commenting on today's announcement, Paul Forman, Chief Executive, said: "As a leading provider of knobs, pins and handles, Innovative Components both strengthens and extends our product range while adding further valuable manufacturing capacity in the Americas. Innovative Components is a strong strategic fit with our own successful hardware business and another example of the attractive acquisition opportunities available to our Components division. As the last few months has demonstrated, we are continuing to combine the successful stabilisation of our businesses to generate stable organic growth with the active management of our portfolio."