BPI receives a three year contract to supply 600 Mobil owned convenience stores.N. DIGHTON, Mass.--(BUSINESS WIRE)--March 3, 1997--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/NMS:BPIE BPIE Base Procured Investment Equipment (Common Stock)), today announced that BPI has received a three year contract, beginning March 1, 1997, to supply 600 Mobil owned convenience stores The following is a list of convenience stores organized by geographical location. Stores are grouped by the lowest heading that contains all locales in which the brands have significant presence. (Mobil Mart and On The Run Stores) with its proprietary Handi-Sac(TM) plastic carry-out bag and dispensing dispensing provision of drugs or medicines as set out properly on a lawful prescription. A prescription can only be filled, the drugs supplied, by a registered pharmacist, veterinarian, dentist or member of the medical profession. system. Dennis N. Caulfield, chairman and chief executive officer, stated, "A joint marketing program is planned to begin in April 1997 to introduce Handi-Sac(TM) to 4,000 Mobil independent convenience stores. Mobil's goal is to use BPI's plastic carry-out bag program in all 4,600 Mobil owned and independent convenience stores." Caulfield concluded, "This Mobil contract increases the number of convenience stores using the proprietary Handi-Sac(TM) product to 9,350 and the expected addition of the 4,000 Mobil independent convenience stores will increase the total to 13,050. There are 91,000 convenience stores in the U.S. and the annual market potential for Handi-Sac(TM) at 100 percent market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" of the convenience store market is estimated at approximately $120 million annually." BPI Packaging Technologies Inc. is a leading manufacturer of traditional plastic grocery carry-out bags, referred to as t-shirt sacks, proprietary t-shirt bags and plastic film products, and proprietary in-store advertising and promotional products. Certain statements contained in this press release are not based on historical facts, but are "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. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, 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. CONTACT: BPI Packaging Technologies Inc., N. Dighton Dennis N. Caulfield, 508/824-8636 or Tower Research Associates, Cleveland Arthur Stupay, 216/861-6950 |
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