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Nita Graphic Arts Equipment Acquires Xpropac

Press release from the issuing company

Lachenaie Qc, Canada., January 24th, 2005 -- Nita Inc Graphic Arts Equipment. a leading manufacturer and marketer of prepress automation solutions for the graphic arts and winner of the coveted 2004 MercadOr Award, today announced that it has signed and finalized the agreement for NITA to acquire Xpropac . The companies will merge their respective operations into the Nita operation, with Xpropac operating as a wholly owned subsidiary of NITA Inc. Located in the east end on Montreal, Quebec, Canada, Xpropac is one of the leaders in label handling and applying equipment as well as automation with respects to packaging plants requiring expertise in implementing a productive ROI for their label application needs. Xpropac’s portfolio includes flexible equipment for the pharmaceutical, food and hard goods, beverages, cosmetics packaging and more. The technology and experience is demonstrated in the shape of roll form or sheeted pressure sensitive labels, tickets and tags, wrap around, blow down, print & apply as well as, a variety of other printing and converting services pertaining to the cardboard packaging markets label applications. Nita's President and CEO Normand Lord said, "We are delighted to announce this acquisition with one of the most respected companies of its kind in Canada. Xpropac is an excellent company that has served its packaging markets with integrity, style, extreme expertise and incredible service. It exactly reflects the kind of structure that is present here at Nita and will enable the technology to grow ahead of the industry” Lord continued, "This acquisition is specifically designed to solidify Nita's leadership in the growing automation industry and launch Nita into the packaging/ labelling market share with proven solutions at hand. The move is expected to provide NITA with the capability to further grow its company and open more doors to opportunity towards a striving packaging automation market still in its infancy; we know that these products hold a significant long-term growth potential for Nita."