Date: Thu, 20 Nov 1997 20:54:11 GMT Server: Apache/1.1.1 Content-type: text/html Content-length: 3007 Last-modified: Fri, 19 Sep 1997 16:14:51 GMT
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MONTREAL, QUEBEC, CANADA, November 18, 1996 - Intertape Polymer Group Inc. (AMEX & TSE: ITP) announced the acquisition of Tape, Inc. by a U.S. subsidiary. Tape, Inc. fabricates and markets a variety of packaging tapes which will broaden the scope of products offered to Intertape Polymer Group's current customer base. In addition, Tape Inc.'s customers are potential buyers of IPG's products. Currently, Tape, Inc.'s revenue is in excess of US$30,000,000 per annum. The purchase price was paid for by way of a combination of cash and common shares. Intertape Polymer Group Inc. develops and manufactures a variety of specialized polyolefin plastic packaging products for industrial uses. The company is based in Montreal, Quebec with manufacturing facilities in Danville, Virginia; Edmundston, New Brunswick; Evans, Georgia; Green Bay, Wisconsin; Rayne, Louisiana; St. Laurent, Quebec; Tampa, Florida; Truro, Nova Scotia; and Porto, Portugal.
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