Filtrona wraps up Stera Tape deal

A YORKSHIRE tape business has been sold to listed plastic and fibre Filtrona.

Filtrona said today it bought all the shares of Stera Holdings, trading as Stera Tape, which is based in Bridlington in East Yorkshire.

Stera Tape makes speciality adhesive tapes and is expected to complement to Duraco, a business within Filtrona's Protection and Finishing Products division.

Sign up to our Business newsletter

Sign up to our Business newsletter

Stera's gross assets acquired are about 2.6m.

Mark Harper, chief executive of Filtrona, said: "The acquisition of Stera Tape is an excellent addition to Duraco, the speciality adhesive tapes business acquired in 2007.

"Stera Tape has a strong reputation for producing high quality double sided transfer and tissue tapes and these products will significantly enhance Duraco's product offering both in the US and Europe."

Filtrona wants to build on its market positions and leverage its commercial model and global infrastructure to achieve growth, he added.