Business
CCL Industries divests dispensing closure business
CCL Industries divests dispensing closure business.
About this update from Ccl Industries Inc. Class A
[{"type":"text","content":"\n\n\n\n\nStock Symbol: TSX - CCL.A and CCL.NV.B\n\nTORONTO, Jan. 24 /CNW/ - CCL Industries Inc., a world leader in specialty\npackaging solutions for the consumer products and healthcare industries,\nannounced today that it has signed a binding agreement to divest the assets of\nits dispensing closure business in Libertyville, IL to AptarGroup, Inc.\nCCL Dispensing had revenues of approximately C$26 million in calendar\nyear 2005 and an Operating Income contribution of approximately C$1 million in\nthe same period. The purchase price of approximately C$24 million will be paid\nin cash. Closing for the transaction is anticipated in early February.\nDonald Lang, Vice Chairman and CEO of CCL Industries commented, \"CCL\nDispensing is a small player in the global closures market and I am delighted\nthat a world leading company in the industry is interested in further\ndeveloping the operation\".\nGeoffrey Martin, President and COO of CCL Industries said, \"This\ndivestiture will allow us to focus on the decorated plastic tube segment of\nour plastic packaging business where we have an interesting market opportunity\nin North America\".\n\nCCL Industries Inc. manufactures pressure-sensitive labels, aluminum\ncontainers and plastic tubes providing state-of-the-art specialty packaging\nsolutions to global producers of consumer brands in the home and personal\ncare, healthcare and specialty food and beverage sectors. With headquarters in\nToronto, Canada, CCL Industries employs approximately 4,700 people and\noperates 47 production facilities in North America, Europe, Latin America and\nAsia.\n\nStatements contained in this Press Release, other than statements of\nhistorical facts, are forward-looking statements subject to a number of\nuncertainties that could cause actual events or results to differ materially\nfrom some statements made.\n\nFor more details on CCL, visit our web site - www.cclind.com\n\n\n","length":1965,"tagName":"div"}]