Russia’s Rosnano may buy British Plastic Logic
One the of the leading British companies, the Plastic Logic, which is involved in a sphere of high technologies, is now holding talks with Russian state corporation Rosnano, according to the latest reports of the Financial Times newspaper. As far as known, the main subject of these business negotiations is the selling of Plastic Logic’s controlling stake to the state corporation.
The Plastic Logic, which is widely famous for its development of the cheap computer chips manufactured from plastic, is now said to be a victim of the decline and reduction of investments by venture capital funds which before used to support its capital needs. Since it was founded back in the year 2000, about 200 million US dollars were invested into it. And such big companies as Intel and BASF are among the owners of the Plastic Logic.
The headquarters of the company was transferred a few years ago to the United States, to Mountain View in California, although, its center, in which its main developments are conducted, is still located in Cambridge, in the UK. Three years ago, in 2007, the company’s plant was opened in the German city of Dresden.
Lately the economic and financial crisis affected the activity of the company, and the investments into the development of high technologies in Britain have been considerably reduced. At present the company urgently needs hundreds of millions of dollars for the new developments.
And, according to analysts, the sale of Plastic Logic’s controlling stake to Rosnano corporation, will highlight the problem of a transfer of the leading British assets abroad.
Besides Rosnano, the potential Chinese investors have been recently displaying a certain interest in a possibility of buying the controlling stake of the Plastic Logic, or, at least, of some of its shares, but no definite agreement has been reached so far.
As far as the Russian Nanotechnology Corporation Rosnano is concerned, it has a rather high reputation both in Russia and abroad. The main goal of the company is acting as co-investor in those nanotechnological projects which have a considerable economic and social potential.
Rosnano is headed by Anatoly Chubais, one of the architects of the privatization plan implemented after the collapse of the Soviet Union.
At present, as far as known, the talks between the two companies are in progress but it is still early to talk about their likely results. If specific results are reached at them, they will be rather mutually beneficial and advantageous for both companies. The Plastic Logic will be saved from its current deep crisis, and, although, its controlling stake is supposed to be sold to Rosnano, the company will survive.