American Pad & Paper acquires Shade-Allied, expands product lines to include machine papers.DALLAS--(BUSINESS WIRE)--Jan. 7, 1997-- American Pad & Paper Co. (NYSE NYSE See: New York Stock Exchange : AGP (Accelerated Graphics Port) A high-speed 32-bit port from Intel for attaching a display adapter to a PC. It provides a direct connection between the card and memory, and only one AGP slot is on the motherboard. ), a $600 million manufacturer of paper-based office products, today announced that a definitive purchase agreement has been signed to acquire Shade-Allied, Inc., for $51.5 million in cash. Based in Green Bay, WI, with manufacturing facilities in four states, Shade-Allied's sales were approximately $90 million in 1996. The transaction is expected to close this month. This acquisition, AP&P's seventh since 1992, signals entry into the company's fourth product category -- Machine Papers. It includes technical papers such as inkjet papers Inkjet paper is paper designed for inkjet printers, typically classified by its weight, brightness and smoothness, and sometimes by its opacity. Successful inkjet printing requires the paper to have exactly the right degree of absorbency to accept the ink but prevent its , printed formats, fine papers such as cotton content and laid papers, as well as continuous forms. AP&P's customers purchased over $800 million of machine papers in 1996. "With each acquisition we have added a new product category or a new channel of distribution to our company," said Charles G. Hanson III, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "AP&P's strategy remains the same: to align ourselves with those companies consolidating the industry (Office Product Superstores This is a list of superstores by country. Multi-national
Hanson stated that "key customers have encouraged us to add machine papers and other paper products to our product offering. This is AP&P's second acquisition in six months and we anticipate more. We will maintain our leadership position in vendor consolidation." American Pad & Paper Co., which invented the legal pad legal pad n. A pad of ruled, usually yellow writing paper that measures 8 1/2 by 14 inches. in 1888, is a leading manufacturer and marketer of paper-based office products in 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. . The Company, with 22 US facilities, manufactures and distributes writing pads, file folders, envelopes and other office products. CONTACT: American Pad & Paper Co. Kevin W. McAleer, 972/733-6244 or Nicolazzo & Associates Richard E. Nicolazzo, 617/951-0000 |
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