SOURCE: CCL Industries Inc.

CCL Industries Inc.

December 20, 2016 17:00 ET

CCL Industries Inc. Announces Appointment of Two New Directors

TORONTO, ON--(Marketwired - December 20, 2016) - Mr. Donald G. Lang, Executive Chairman of the Board of CCL Industries Inc. ("CCL") (TSX: CCL.A) (TSX: CCL.B), a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, announced the appointment of Vincent J. Galifi and Erin M. Lang to the Board of Directors.

Mr. Galifi is currently Executive Vice President and Chief Financial Officer of Magna International, a leading global automotive supplier. During Mr. Galifi's 27-year career at Magna, his responsibilities have included Director of Taxation & Insurance, Vice President & Controller, Vice President Finance and Executive Vice President Finance and Chief Financial Officer. Mr. Galifi, in addition to his responsibilities within the Finance Department, serves on the Executive Management Committee, the Disclosure Committee and Policy & Procedures Committee as well as advisor to the Audit Committee and the Corporate Governance and Compensation Committee of Magna. Mr. Galifi has a Bachelor of Commerce degree, with high distinction, from the University of Toronto. He obtained his C.P.A. designation in 1984 and is a member of the Institute of Chartered Accountants of Ontario.

Mr. Lang stated, "We are extremely pleased to welcome Mr. Galifi, and his depth of international finance knowledge, strategic know how and global acquisition experience to CCL's Board and Committees."

Ms. Lang is currently the Managing Director of LUMAS Canada, with limited edition photographic for-profit art galleries in Toronto and Vancouver. Ms. Lang has a Master of Science degree in Nonprofit Management from the Milano School of Management and Urban Policy and a Bachelor of Science degree in Communications from Boston University.

Ms. Kathleen L. Keller-Hobson, the non-executive lead director of CCL, stated, "We are pleased to introduce Ms. Lang to CCL's Board and Committees as she will continue the prudent Lang family stewardship that has successfully guided the Company for over 60 years."

Forward-looking Statements

This press release contains forward-looking information and forward-looking statements (hereinafter collectively referred to as "forward-looking statements"), as defined under applicable securities laws, that involve a number of risks and uncertainties. Forward-looking statements include all statements that are predictive in nature or depend on future events or conditions. Forward-looking statements are typically identified by the words "believes," "expects," "anticipates," "estimates," "intends," "plans" or similar expressions. Statements regarding the operations, business, financial condition, priorities, ongoing objectives, strategies and outlook of the Company, other than statements of historical fact, are forward-looking statements.

Forward-looking statements are not guarantees of future performance. They involve known and unknown risks and uncertainties relating to future events and conditions including, but not limited to, the after-effects of the global financial crisis and its impact on the world economy and capital markets; the impact of competition; consumer confidence and spending preferences; general economic and geopolitical conditions; currency exchange rates; interest rates and credit availability; technological change; changes in government regulations; risks associated with operating and product hazards; and CCL's ability to attract and retain qualified employees. Do not unduly rely on forward-looking statements as the Company's actual results could differ materially from those anticipated in these forward-looking statements. Forward-looking statements are also based on a number of assumptions, which may prove to be incorrect, including, but not limited to, assumptions about the following: global economic recovery and higher consumer spending; improved customer demand for the Company's products; continued historical growth trends, market growth in specific sectors and entering into new sectors; the Company's ability to provide a wide range of products to multinational customers on a global basis; the benefits of the Company's focused strategies and operational approach; the achievement of the Company's plans for improved efficiency and lower costs, including stable aluminum costs; the availability of cash and credit; fluctuations of currency exchange rates; the Company's continued relations with its customers; the Company's estimated annual cost reductions from the restructuring of the Checkpoint Systems, Inc. acquisition, and economic conditions. Should one or more risks materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking statements. Further details on key risks can be found in the 2015 Annual Report, Management's Discussion and Analysis, particularly under Section 4: "Risks and Uncertainties." CCL's annual and quarterly reports can be found online at www.cclind.com and www.sedar.com or are available upon request.

Except as otherwise indicated, forward-looking statements do not take into account the effect that transactions or non-recurring or other special items announced or occurring after the statements are made may have on CCL's business. Such statements do not, unless otherwise specified by the Company, reflect the impact of dispositions, sales of assets, monetizations, mergers, acquisitions, other business combinations or transactions, asset write-downs or other charges announced or occurring after forward-looking statements are made. The financial impact of these transactions and non-recurring and other special items can be complex and depends on the facts particular to each of them and therefore cannot be described in a meaningful way in advance of knowing specific facts. The forward-looking statements are provided as of the date of this press release and the Company does not assume any obligation to update or revise the forward-looking statements to reflect new events or circumstances, except as required by law.

Contact Information

  • For more information visit www.cclind.com or contact:

    Sean Washchuk
    Senior Vice President and Chief Financial Officer
    416-756-8526