BPI Packaging Technologies Inc. announces new business with Marks & Spencer estimated at $1.0 to $2.0 million annually.N. DIGHTON, Mass.--(BUSINESS WIRE)--June 25, 1996--BPI Packaging Technologies Inc. ("BPI (Bits Per Inch) The measurement of the number of bits stored in one linear inch of a track (storage channel) on a disk or tape. Bit density on magnetic disks has reached 800,000 bpi (800 Kbpi). See tpi, areal density and magnetic disk. BPI - bits per inch ") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NMS See NetWare Management System. : "BPIE BPIE Base Procured Investment Equipment " (Common Stock)), today announced that it has qualified to be a Marks & Spencer supplier and it has received an initial order for t-shirt carryout car·ry·out adj. Intended to be consumed away from the place of sale; takeout: a shop offering carryout sandwiches. n. An item of food or a meal that is to be consumed away from the place of sale. bags manufactured to Marks & Spencer specifications. Based on the initial order, new business is estimated at $1.0 to $2.0 million annually. Dennis N. Caulfield, president and chief executive officer, stated, "Marks & Spencer is a leading supermarket and retail chain in the United Kingdom with operations internationally in 19 countries, including Brooks Brothers Brooks Brothers is the oldest surviving men's clothier in the United States, founded in 1818. The privately owned company is owned by Retail Brand Alliance, a spinoff of Luxottica, and is headquartered on Madison Avenue in New York City. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Sales for Fiscal 1996 (year ended March 31, 1996) were $11 billion and pre-tax profits were $1.5 billion (based on current exchange rates)." Caulfield indicated, "BPI's London office has done an exceptional job in positioning BPI in the U.K. market. Marks & Spencer is regarded as the leader in the market, and it is our opinion that being a qualified supplier to Marks & Spencer will open up additional opportunities for BPI in both the U.K. and European markets." Caulfield concluded, "BPI's management team, manufacturing technology, and quality control procedures were subject to an extensive review by Marks & Spencer management before BPI was qualified as a supplier, and we are particularly proud of this accomplishment." BPI Packaging Technologies Inc. is a leading manufacturer of traditional plastic grocery carryout bags, referred to as t-shirt sacks, proprietary t-shirt bags, and proprietary in-store advertising and promotion products. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are based upon a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. Actual events and results may materially differ from anticipated results described in such statements. The company's ability to achieve the results anticipated in any forward-looking statements is subject to certain risks and uncertainties, including, but not limited to, the general economy, product demand, market acceptance, fluctuations in operating results, intense competition, continued availability of capital and financing, other factors affecting the company's business beyond the company's control, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. CONTACT: BPI Packaging Technologies Inc., N. Dighton Dennis N. Caulfield, 508/824-8636 or Tower Research Associates, Cleveland Arthur Stupay, 216/861-4816 |
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