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 CHARLOTTE, N.C., Aug. 25 /PRNewswire/ -- Gibraltar Packaging Group, Inc. (NASDAQ: PACK) today released the following excerpts from its 1993 Annual Report:
 Gibraltar Strengthens Its Value
 Value to our customers. Value to our investors. At Gibraltar, we know the two go hand in hand. Every stage of our exciting expansion and restructuring has been aimed at enhancing our offerings to both of these important groups.
 Following a successful initial public stock offering (NASDAQ: PACK) and the acquisition of several complementary packaging companies in 1991- 1992, Gibraltar acquired two more strong producers in 1993 while corporate headquarters were moved to Charlotte, N.C. Following efficient consolidations, Gibraltar is now composed of four of the best packaging companies in the business:
 -- Great Plains Packaging in Hastings, Neb.
 -- Flashfold Packaging in Sandusky, Ohio
 -- Niemand Industries in Statesville, N.C., and Marion, Ala.
 -- Standard Packaging and Printing in Mount Gilead, N.C.
 These four companies, with 30 sales reps nationwide, provide a broad range of products and capabilities in packaging production and printing:
 -- Folding cartons
 -- Specialty laminated boxes
 -- Flexible packaging (poly film)
 -- Pressure-sensitive labels
 -- Spiral-wound paper packaging
 -- Contract packaging and filling
 Strategic Moves in '93
 1993 was a year of dynamic change in keeping with the company's strategic mission to strengthen value for investors and customers. Highlights include:
 -- Acquisition in January of Standard Packaging and Printing Corp. of Mount Gilead, N.C., a manufacturer of folding cartons, poly-film packaging and pressure sensitive labels.
 -- Acquisition in April of Niemand Industries, a spiral-wound paper packaging manufacturer and one-stop contract packager with plants in Statesville, N.C., and Marion, Ala.
 -- Appointment of a new executive management team under D.C. "Deke" Abbott, chairman and CEO. Moving up to corporate positions from similar posts at Niemand are Ralph Perullo, president and COO; Sean St. John, corporate director of Marketing; Fred Shackelford, corporate controller; Marianne Hendrix, VP of Purchasing; and Kathleen Piontek, VP of Quality and Organizational Development. Jay Kilkenny, former co-founder and managing director of Liberty Power Corp. in New York, has been named CFO of Gibraltar.
 -- Consolidated operations of the Sandusky, Ohio, plant into the Flashfold Division in Ft. Wayne, Ind., and other regional plants.
 -- Began a $9 million capital expansion program expanding Marion and Ft. Wayne plants and upgrading equipment in several locations.
 -- Moved corporate headquarters to 9,000 sq. ft. at 2115 Rexford Road, Charlotte, N.C., for more convenient access to customers, shareholders and business support services. Gibraltar is the only publicly held packaging company based in Charlotte, which has long been a packaging and printing center for the nation.
 Advantages of Acquisitions and Consolidations
 Gibraltar's recent acquisitions expand its base of blue-chip clients with names like Avon, Becton Dickinson, Smead, Hasbro, Wal-Mart, Kayser- Roth Hosiery, Sherwin Williams, Kmart, Yardley, McCormick and Neutrogena.
 These customers are in strong, growing markets such as cosmetics/personal care, household, industrial, automobile aftermarket, pharmaceuticals, office supply, confectionary and other foods, tobacco, textiles, toys and private label markets.
 Gibraltar has strengthened its innovation capability, recently unveiling a new AppliCade disposable vaginal applicator, and the Extinguisher for temporarily extinguishing lit cigarettes. Manufactured for the Canadian marketplace, the Extinguisher is expected to command growing consumer demand as rising taxes increase cigarette prices.
 Perhaps most importantly, Gibraltar is better able to offer a comprehensive range of packaging-related services on a "one-stop" basis. This will allow numerous cross-selling opportunities with new and existing clients. Yet, due to careful management of acquisitions, there is no overlap or duplication of services among Gibraltar's four companies, and no single client has more than 5 percent of Gibraltar's business.
 With 1,000 employees, possessing both breadth and depth of capabilities, the company is strongly positioned to take advantage of important packaging/marketing trends, such as:
 -- Point-of-sale advertising requiring high-quality graphic displays
 -- High-quality printing and design capabilities
 -- Fast service and delivery, including just-in-time
 -- Customers moving to fewer but stronger suppliers
 Consolidated facilities and centralized purchasing, marketing and other management functions further brighten the bottom line. And a $40 million NationsBank credit facility provides added flexibility and security.
 A Strong Package for the Future
 Gibraltar's strategic moves in 1993 mean not only strength for today's operations but strength for tomorrow's challenges as well. The company will continue expanding its core business through increased sales and marketing and acquiring complementary businesses. Our primary strategic objective is to provide ever increasing value for our shareholders and our customers. Gibraltar aims to realize rock-solid profit opportunities through its consolidations, increased sales and cross-selling, centralized purchasing and marketing, and higher productivity.
 We anticipate steady, long-term growth in size and earnings, a growing base of stable customers, and continuously improving fundamentals under our aggressive new management team. We will not only respond to changing marketing trends -- we will even be defining them as an industry leader.
 Whether you're an investor or a client, Gibraltar offers you an outstanding level of performance that is, in many ways, an irresistible package.
 -0- 8/25/93
 /CONTACT: Sean St. John, Corporate Director of Marketing for Gibraltar Packaging Group, 704-366-292/

CO: Gibraltar Packaging Group, Inc. ST: North Carolina IN: PAP SU:

CM-MM -- CH006 -- 0311 08/25/93 11:48 EDT
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Publication:PR Newswire
Date:Aug 25, 1993

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