AEP Industries Inc. announces Australian acquisition.SOUTH HACKENSACK, N.J.--(BUSINESS WIRE)--December 23, 1996--AEP Industries Inc. (Nasdaq:AEPI) today announced the acquisition of Duplas Pty. Ltd., a privately-held printer, laminator and converter (1) A device that changes one set of codes, modes, sequences or frequencies to a different set. See A/D converter. (2) A device that changes current from 60Hz to 50Hz and vice versa. of flexible packaging products based in Sydney, Australia. The purchase price for Duplas, which has annual sales of approximately $10 million, was approximately $1 million. The present owners of Duplas will remain with the Company and will continue to participate in its management. "Duplas has established itself as a valued supplier of flexible packaging products to customers in the confectionary, snack food and dairy industries. Their operations in New South Wales New South Wales, state (1991 pop. 5,164,549), 309,443 sq mi (801,457 sq km), SE Australia. It is bounded on the E by the Pacific Ocean. Sydney is the capital. The other principal urban centers are Newcastle, Wagga Wagga, Lismore, Wollongong, and Broken Hill. will complement our present manufacturing and distribution capacity and should provide expansion opportunities in the Queensland market," stated AEP AEP - Application Environment Profile Chairman and Chief Executive Officer J. Brendan Barba. The Duplas transaction represents AEP's second expansion move involving the Australian market in recent months. The Company added to its business in Australia, as well as other international and domestic markets, as a result of its October 1996 acquisition of the Global Packaging business of Borden, Inc., with sales of approximately $624 million. AEP Industries Inc. manufactures, markets, and distributes an extensive range of plastic packaging products for the food/beverage, industrial and agricultural markets. The Company has operations in 12 countries throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, Asia/Pacific and Africa. CONTACT: Catherine J. Feeney Manager, Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. (201) 807-2314 e-mail: cfeeney@aepind.com or Morgen-Walke Associates Investor Contact: June Filingeri, Jennifer Miller For the performer of the same name, see . Jennifer Miller (born 1961) is an American circus entertainer, writer and a university professor. Miller is a professor for the UCLA Department of World Arts and Cultures. She is a bearded woman, juggler, and fire eater. Media Contact: Stan Froelich (212) 850-5600 |
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