APPLETON, Wis., Aug. 4 /PRNewswire/ — Appleton announced today that it has simultaneously entered into a definitive agreement to sell and completed the sale of Bemrose Group Limited to an acquisition affiliate of American Industrial Acquisition Corporation, a U.S.-based private equity firm. Terms of the sale were not disclosed.
BemroseBooth was a wholly-owned subsidiary that Appleton acquired in December 2003. In January, Appleton’s chief executive officer, Mark Richards, announced that Appleton intends to focus on its core businesses and would explore the sale of BemroseBooth because it no longer complements Appleton’s long-term strategic direction.
BemroseBooth produces security-printed vouchers and payment cards, mass transit and car parking tickets, variable data labeling, high-integrity mailing and printed calendars. The company also offers print management services, such as creative design, product sourcing and stock and logistics management, through a network of external suppliers. BemroseBooth employs nearly 600 people at operations in Derby, Hull and Teesside, United Kingdom.
Appleton creates product solutions through its development and use of coating formulations and applications and encapsulation technology. Appleton produces carbonless, thermal, security and performance packaging products. Appleton, headquartered in Appleton, Wisconsin, has manufacturing operations in Wisconsin, Ohio, Pennsylvania, and Massachusetts, employs approximately 3,000 people and is 100 percent employee owned. For more information visit http://www.appletonideas.com/.
Notice regarding forward-looking statements
This news release contains forward-looking statements. The words “will,” “believes,” “anticipates,” “intends,” “estimates,” “expects,” “projects,” “plans,” or similar expressions are intended to identify forward-looking statements. All statements in this news release other than statements of historical fact, including statements which address Appleton’s strategy, future operations, future financial position, estimated revenues, projected costs, prospects, plans and objectives of management and events or developments that Appleton expects or anticipates will occur, are forward- looking statements. All forward-looking statements speak only as of the date on which they are made. Those statements rely on assumptions concerning future events and are subject to a risks and uncertainties, many of which are outside of Appleton’s control, that could cause actual results to differ materially from such statements. Those risks and uncertainties include, but are not limited to, the factors listed under the heading “Risk Factors” in Appleton’s 2007 Annual Report on Form 10-K. Given these factors, you should not place undue reliance on the forward-looking statements. Forward-looking statements speak only as of the date they are made and may not be updated to reflect changes that may occur after the date they are made. Appleton disclaims any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
First Call Analyst:
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, firstname.lastname@example.org