Innovia boss steps down following SFO arrest
THE deputy chairman of plastics multi-national Innovia Films has resigned as a director following his arrest by police investigating alleged corruption at an associated company.
According to papers filed at Companies House Bill Lowther, 70, parted company with Innovia, based at Wigton, near Carlisle, last month after he was arrested as part of a global probe into activities at Securency International, a company Innovia jointly owns with the Reserve Bank of Australia.
Police arrived at Innovia’s base in Wigton on October 6 in search of information relating to Securency. Mr Lowther and five others picked up in separate raids have been arrested and bailed without charge.
The Serious Fraud Office (SFO), which is working with the Australian police, said the case involved the activities of the employees and agents of Securency and their alleged corrupt role in securing international polymer bank note contracts.
Innovia, which has a £344m turnover and employs 1,370 staff, produces cellulose films used in packaging and to wrap packs of cigarettes. Securency is involved with printing bank notes.
Innovia’s finance director Martin Leitch said: “It’s an entirely normal process for directors to step aside while investigations are going on. Mr Lowther is handling the matter and liaising with the SFO.”
A statement issued earlier by the company said Innovia was continuing to co-operate with the police but stressed the investigation was limited to Securency.
Mrl Lowther, who was awarded the OBE in 1991 for services to the packaging industry, has a high profile in the Cumbrian business community.
He has served as chairman of the Cumbria Strategic Partnership and also been a magistrate and Deputy Lieutenant of Cumbria.
