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Printpack and Woodrow A. Hall Announce the Formation of Diversapack

Press release from the issuing company

ATLANTA--Feb. 22, 2002--Printpack Inc. and Woodrow A. Hall have announced the formation of Diversapack, a new minority business venture. Hall will hold a 51% share in the company and Printpack 49%. Diversapack will own and operate plants in Marengo, Illinois; Orland, Indiana; and Cincinnati, Ohio (formerly owned by Orflex, LLC.). The capabilities of the Marengo converting plant include rotogravure printing, laminating, and bag making, as well as blown film manufacturing. The Orland plant performs contract packaging and assembly, and the Cincinnati plant has flexographic printing, extrusion lamination and extrusion coating capabilities. "The combined capabilities of the three plants gives Diversapack a real advantage in the marketplace,'' stated James J. Greco, V.P. and General Manager of Printpack's U.S. Flexibles division. "A number of our customers have expressed an interest in working with a minority-owned supplier who could offer the same scope of services as a larger converter. Diversapack gives them that option.'' The two companies plan to work closely together both operationally and commercially. Printpack Inc. is a privately held producer of flexible packaging headquartered in Atlanta, GA, with annual sales over $1 billion and plant sites in the U.S., Mexico, and the United Kingdom.