Business
CCL Industries Announces Intelligent Label Investment
TORONTO, ON / ACCESSWIRE / August 1, 2023 / CCL Industries Inc. (TSX:CCL.A, CCL.B) ("CCL"), ...
About this update from Ccl Industries Inc. Class A
[{"type":"text","content":"CCL Industries Announces Intelligent Label InvestmentTORONTO, ON / ACCESSWIRE / August 1, 2023 / CCL Industries Inc. (TSX:CCL.A, CCL.B) (\"CCL\"), a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, announced today it has acquired for $27.0 million the entire intellectual property suite of Imprint Energy Inc. (\"IEI\") and welcomes to CCL the R&D team responsible for the innovations.IEI, located in Alameda, California, is a start-up technology company with proprietary technology for ultrathin, non-hazardous and non-toxic printed batteries for IoT devices, sensors and wearables. These product lines will become an integral part of CCL Design.Derek Cumming, Group Vice President, CCL Design, stated, \"We have closely watched the development of IEI's unique battery technology for some years and are very pleased that the founder, Dr. Christina Ho, will join our Company. We look forward to working with Dr. Ho and her team to further develop this exciting market.\"Geoffrey T. Martin, President & Chief Executive Officer of CCL, commented, \"By 2028, we are targeting IEI products to generate approximately $10 million of incremental EBITDA as we pioneer this interesting opportunity for actively powered intelligent labels.\"Forward-looking StatementsThis press release contains forward-looking information and forward-looking statements (hereinafter collectively referred to as \"forward-looking statements\"), as defined under applicable securities laws, that involve a number of risks and uncertainties. Forward-looking statements include all statements that are predictive in nature or depend on future events or conditions. Forward-looking statements are typically identified by the words \"believes,\" \"expects,\" \"anticipates,\" \"estimates,\" \"intends,\" \"plans\" or similar expressions. Statements regarding the operations, business, financial condition, priorities, ongoing objectives, strategies and outlook of the Company, other than statements of historical fact, are forward-looking statements. Specifically, this press release contains forward-looking statements regarding the future potential market and EBITDA of IEI.Forward-looking statements are not guarantees of future performance. They involve known and unknown risks and uncertain...