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PURE TECH TO ACQUIRE NEW PLASTICS RECYCLING FACILITY; TO EXPAND OPERATIONS INTO NEW YORK; TO INCREASE PRODUCTION CAPACITY TO 100M POUNDS

 SOMERSET, N.J., June 21 /PRNewswire/ -- Pure Tech International, Inc. (NASDAQ-NMS: PURT; Boston: PUR) today announced that it has entered into an agreement to purchase 100 percent of the outstanding stock of APR Plastic Processing, Inc. Founded in 1991 and located in East Farmingdale, N.Y., APR is a recycler of post-consumer PET plastics operating a 30,000 square foot facility. APR has an annual production capacity of approximately 22 million pounds. The closing of the agreement is subject to certain terms and conditions.
 Mr. David Katz, president of Pure Tech said, "With the acquisition of APR, Pure Tech will increase its annual PET recycling capacity to approximately 100 million pounds, and will have a current post-consumer PET bottle supply of approximately the same. We consider the 100 million pound benchmark to be very significant. Less than one year ago, our annual PET supply and production capacity were less than 15 million pounds. Management has been determined to achieve these new production and supply levels and we are pleased to have identified a facility and market in which we had not been competing."
 In announcing the agreement, Mr. Simon Sinnreich, chairman of the bard of Pure Tech stated, "This acquisition is especially gratifying. APR has, in a short time, built and expanded their operations in the New York area to approximately 22 million pounds annually. With the acquisition of APR, we welcome back two former executives of Pure Tech who will rejoin our team under long term employment contracts."
 Mr. Anthony Conte, president of APR, and a former Pure Tech employee, will immediately be rejoining the company at the executive level. Mr. Katz stated, "Mr. Conte was instrumental in the design and construction of Pure Tech's Springfield plant, and while terms of his employment contract have not been finalized, we expect that Mr. Conte will assume the title of vice president and be responsible for the operations of the company's plastics recycling plants."
 Mr. Sinnreich added, "Pure Tech remains aggressive in its expansion efforts and will continue to seek suitable opportunities to increase its operational base."
 Pure Tech is a recycler of post-consumer containers made of plastic, glass, aluminum and steel and is also engaged in thermoplastic injection molding. With the acquisition of APR, Pure Tech will operate a total of ten facilities in six states.
 -0- 6/21/93
 /CONTACT: Michael J. Rietbrock or Davis Weinstock II of Clark & Weinstock Inc., 212-953-2550, for Pure Tech International, Inc./
 (PURT)


CO: Pure Tech International, Inc. ST: New Jersey, New York IN: ENV SU: TNM

MP-TS -- NY056 -- 4070 06/21/93 12:58 EDT
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Publication:PR Newswire
Date:Jun 21, 1993
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