Rusnano In Talks To Acquire Plastic Logic

Russia is holding advanced talks to acquire leading British display screen manufacturer Plastic Logic.

The state-owned Russian Corporation Nanotechnologies (Rusnano), a non-profit organisation, reportedly aiming to buy Plastic Logic, one of the largest manufacturers of display screens in the world, the Financial Times reports.

Plastic Logic has so far received investment worth up to $200 million from Intel, BASF, and other large venture capital companies since its inception in 2000. The company manufactures screens for use in the emerging e-book reader market.

“This information is new to us. Our managing director is in London right now and he is working on the project. We has no new announcements to make, and does not comment on rumors or speculation," said Alexander Losyukov, director of international affairs at Rusnano during an interview on Russia’s radio station Ekho Moskvy.

Rusnano has received $10 billion in state funding to ensure it can generate $30 billion worth of annual sales by 2015.