Essentra starts review of packaging unit; CFO to join Synthomer

Essentra said it had decided to start a strategic review of its packaging division as it continued to move towards becoming a pure play components business.

The company said the review would run in parallel with the previously announced strategic review of its filters unit.

It also said chief financial officer Lily Liu was leaving to take up a new role at Synthomer in mid-2022.

“The board remains focused on maximising shareholder value and it is anticipated that both reviews are likely to conclude in Q2 2022 at the earliest,” the company said on Friday.

The packaging operation, which specialises in secondary packaging for healthcare and pharma, had sales of £363.2m last year and is Essentra’s biggest business unit.