CCL Releases 2007 Annual Financial Statements

About this update from Ccl Industries Inc. Class A

[{"type":"text","content":"\n\n\n\nStock Symbol: TSX - CCL.A and CCL.B\n\n\nTORONTO, March 12 /CNW/ - CCL Industries Inc., a world leader in the\ndevelopment of labelling solutions and specialty packaging for the consumer\nproducts and healthcare industries, released today its annual financial\nstatements for the year ended December 31, 2007 and the related Management's\nDiscussion and Analysis. The Company previously released its summary financial\nresults for 2007 on February 28, 2008.\n\n\nWith headquarters in Toronto, Canada, CCL Industries now employs\napproximately 5,300 people and operates 53 production facilities in North\nAmerica, Europe, Latin America and Asia. CCL Label is the world's largest\nconverter of pressure sensitive and film materials and sells to leading global\ncustomers in the consumer packaging, healthcare and consumer durable segments.\nCCL Container and CCL Tube produce aluminum cans, bottles and plastic tubes\nfor the consumer products industry in North America.\n\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\n\nConsolidated Financial Statements\n\n\n(In thousands of Canadian dollars)\n\n\nCCL INDUSTRIES INC.\n\n\nYears ended December 31, 2007 and 2006\n\n\nAUDITORS' REPORT TO THE SHAREHOLDERS\n\n\nWe have audited the consolidated balance sheets of CCL Industries Inc. as\nat December 31, 2007 and 2006 and the consolidated statements of earnings,\ncomprehensive income, shareholders' equity and cash flows for the years then\nended. These financial statements are the responsibility of the Company's\nmanagement. Our responsibility is to express an opinion on these financial\nstatements based on our audits.\n\n\nWe conducted our audits in accordance with Canadian generally accepted\nauditing standards. Those standards require that we plan and perform an audit\nto obtain reasonable assurance whether the financial statements are free of\nmaterial misstatement. An audit includes examining, on a test basis, evidence\nsupporting the amounts and disclosures in the financial statements. An audit\nalso includes assessing the accounting principles used and significant\nestimates made by management, as well as evaluating the overall financi...

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