AptarGroup expands dispensing closure capabilities by acquiring French firm and minority interest in German firm.CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--Dec. 21, 1995--AptarGroup Inc. (NYSE NYSE See: New York Stock Exchange :ATR ATR Achilles tendon reflex, see Ankle reflex ) today announced the acquisition of a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in General Plastics S.A. General Plastics, a premier manufacturer of dispensing closures for the personal care market, is headquartered in a suburb of Paris and has two manufacturing facilities in France. For its most recent fiscal year ended June 30, 1995, General Plastics generated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of approximately $16.5 million, primarily in the domestic French market. The total purchase price, including debt assumed, did not exceed annual net sales for the most recent fiscal year. Commenting on the acquisition, Ervin J. LeCoque, chairman and chief executive officer, said, "The General Plastics acquisition allows us to further expand our dispensing closure business in Europe and provides Aptar with bi-injection molding technology, which allows for the molding of two colors or two materials in the same molding cycle. The acquisition is not expected to have a dilutive impact on earnings." AptarGroup also announced that earlier in the quarter it completed the purchase of a 35 percent minority interest in Loffler Kunststoffwerk GmbH, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. that is also a leading manufacturer of dispensing and standard closures in Germany and Europe. Loffler has manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. in Germany and the Czech Republic Czech Republic, Czech Česká Republika (2005 est. pop. 10,241,000), republic, 29,677 sq mi (78,864 sq km), central Europe. It is bordered by Slovakia on the east, Austria on the south, Germany on the west, and Poland on the north. . LeCoque added, "We view the General Plastics and Loffler acquisitions as critical elements of executing AptarGroup's strategy to further penetrate and expand the European dispensing closure market. Both of these acquisitions improve our capability to better serve the dispensing closure needs of our European and global customers." Aptar Group Inc. is a leading international manufacturer, designer, and marketer of pumps, aerosol valves, and dispensing closures for personal care, fragrance/cosmetic, pharmaceutical, household, and food products. AptarGroup is headquartered in Crystal Lake, with manufacturing facilities primarily in the United States and Europe. CONTACT: AptarGroup Inc., Crystal Lake Steve Hagge, 815/477-0424 or Edelman Worldwide, Chicago Gary Strong, 312/240-2634 |
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