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HOLOPAK TECHNOLOGIES, INC. ACQUIRES FOIL BUSINESS FROM BOLLORE TECHNOLOGIES

 EAST BRUNSWICK, N.J., May 7 /PRNewswire/ -- HoloPak Technologies, Inc. (NASDAQ: HOLO) said today that it acquired the hot stamping foil business of Bollore Technologies, a diversified French corporation:
 The assets acquired by HoloPak consist of:
 -- foil sales offices in Paris, Stuttgart and Brussels;
 -- the shares of Jaeger Graphic Technologies, a Belgian foil sales and distribution company;
 -- the distribution rights for Bollore's French foil business, together with the associated inventory, and;
 -- certain of the machinery and equipment used by Bollore in its foil manufacturing operation.
 "This acquisition is an excellent strategic fit in our growing worldwide business," said Harry Parker, Chief Executive Officer of HoloPak. "Europe has historically been a very good market for foil and holography and Jaeger offers us the opportunity to enter the European market without the significant investment needed if we attempted to do it on our own," Mr. Parker said.
 "We have worked with Jaeger for 25 years and have a great deal of respect for their management expertise. By combining our resources, we can increase our share of this important market," Mr. Parker added.
 The acquisition cost of approximately $1.9 million was financed with available cash and borrowings under the company's existing line of credit, according to David Jaffin, Chief Financial Officer of HoloPak. "Jaeger had sales of approximately $6.0 million in 1992. We expect that Jaeger will become a strong contributor to our sales and earnings. With the closing of the Alubec and Jaeger acquisitions in 1993, our pro forma sales are now more than $50 million as compared to $33 million last year," Mr. Jaffin said.
 HoloPak Technologies, Inc. is a leading specialty manufacturer of holographic images, hot stamp foils, metalized paper, foilboard, diffractive films and laminates used to decorate or label a wide variety of products including packaging and promotional materials, greeting cards, paperback book covers, cosmetics, appliances, and sporting goods. Three-dimensional holograms are also used in security/anti- counterfeiting applications. HoloPak has operations throughout the United States, Canada, France, Germany and Belgium.
 -0- 5/7/93
 /CONTACT: David W. Jaffin of HoloPak Technologies, Inc., 908-238-2883/
 (HOLO)


CO: HoloPak Technologies, Inc.; Bollore Technologies ST: New Jersey IN: SU: TNM

SH -- NY016 -- 5820 05/07/93 09:20 EDT
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Publication:PR Newswire
Date:May 7, 1993
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