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Avery Dennison Acquires Dunsirn Industries

Press release from the issuing company

PASADENA, Calif. - February 1, 2001 - Avery Dennison Corporation (NYSE/PCX:AVY) announced today that it has acquired Dunsirn Industries, Inc., a privately held company based in Neenah, Wisconsin, which is a leading provider of non-pressure-sensitive materials to the narrow web printing industry, as well as customized slitting and distribution services for roll materials manufacturers. "The acquisition of Dunsirn Industries provides an excellent strategic growth opportunity for our roll materials business," said Philip M. Neal, chairman and chief executive officer of Avery Dennison. "As we look to expand our label materials business into markets beyond pressure-sensitive applications, Dunsirn's core competencies are a powerful complement to our capabilities." Dunsirn Industries provides high-quality, contract slitting and distribution services for paper, film, textile, nonwoven and specialty roll materials. The company also is a leading provider of materials used by narrow web printers for production of non-pressure-sensitive tags and labels. In 2001, Avery Dennison expects to generate approximately $60 million in net reported sales from this acquisition. "Avery Dennison's roll materials capabilities will expand overnight with the additional technical expertise, sales channel and distribution infrastructure that Dunsirn brings to us," said Neal. "Our global reach will enable us to grow the business by introducing Dunsirn products to international markets, while our Fasson customers will benefit from the convenience of purchasing roll materials, both pressure-sensitive and non-pressure-sensitive, from a single source."

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