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Multi-Color Completes Purchase of IPC&L Heat Transfer Business

Thursday, July 17, 2003

Press release from the issuing company

CINCINNATI, July 16 -- Multi-Color Corporation today announced that it acquired the heat transfer label (HTL) business and all related proprietary technologies from Tennessee based International Playing Card & Label Co. Inc. (IPC&L). The purchase includes the food and beverage and consumer products business for North, Central, and South America. "This acquisition is a great addition to our heat transfer technology. It augments the leadership position we gained through our purchase of Dec Tech - the pioneers of heat transfer labels", said Frank Gerace, President and CEO of Multi-Color Corporation. Multi-Color will consolidate the North American business into its Dec Tech facility in Framingham, MA. The Central and South American business will be manufactured at IPC&L's Buenos Aires, Argentina operation, as part of a manufacturing agreement entered into between the companies. "This facility enables Multi-Color to produce decorative labels in South America. We are pleased to be able to conclude this transaction, as it further develops Multi- Color's South American strategy", commented John Geurtsen, Director of Business Development for Multi-Color Corporation. "Not only does it expand our operations in South America, it provides Multi-Color the opportunity to better service existing customers in the region". "This acquisition supports our overall plan to continue building Multi- Color's brand and franchise globally", concluded Gerace. This is Multi-Color's fourth acquisition since October of 2001.

 

 

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