CCL Industries Inc.

CCL Industries Inc.

March 19, 2009 15:17 ET

CCL Industries Inc.-Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - March 19, 2009) - CCL Industries Inc. (TSX:CCL.A)(TSX:CCL.B), a world leader in the development of labelling solutions and speciality packaging for the consumer products and healthcare industries, announced today that it intends to commence a normal course issuer bid ("the Bid") to acquire up to 13,000 of its outstanding Class A voting shares and 2,100,000 Class B non-voting shares, being approximately 10% of the public float of each class of shares.

As at March 19, 2009, CCL had 2,374,025 Class A shares and 30,235,221 Class B shares issued and outstanding. All purchases will be made through the facilities of and in accordance with the rules of the Toronto Stock Exchange and all shares purchased will be cancelled. Except where reliance is placed on the Exchange's block purchase exemption, the maximum number of shares that could be purchased under the Bid on any trading day will be 1,000 Class A voting shares and 13,321 Class B non-voting shares. The average daily trading volumes for the six-month period ended February 28, 2009 were 70 Class A voting shares and 53,283 Class B non-voting shares.

The Bid will commence on March 23, 2009 and end no later than March 22, 2010. CCL's management believe that such purchases are an appropriate and desirable use of available funds.

Under CCL's previous normal course issuer bid which expired on March 3, 2009, CCL purchased 618,000 Class B non-voting shares at a weighted average price per share of $29.27 and no Class A voting shares. All of the shares purchased under the prior bid have been cancelled.

With headquarters in Toronto, Canada, CCL Industries now employs approximately 5,400 people and operates 55 production facilities globally located to meet the sourcing needs of large international customers. CCL Label is the world's largest converter of pressure sensitive and film materials for label applications and sells to leading global customers in the consumer packaging, healthcare, automotive and consumer durable markets. CCL Container and CCL Tube are leading producers of aluminum aerosol cans, bottles and extruded plastic tubes for consumer packaged goods customers in the United States, Canada and Mexico.

Any forward-looking statements contained in this press release, including statements relating to the Bid, the outlook of CCL Industries Inc.'s various divisions and products and CCL's growth and expansion plans, involve risks, uncertainties and assumptions and should not be taken as guarantees of future performance. A number of factors could cause actual results, performance or achievements to vary materially from those anticipated in forward-looking statements, including: general economic and business conditions and specific conditions affecting the sector in which CCL operates, including pricing pressures; CCL's ability to attract and retain its customer base; technological change; competition; changes in, or failure to comply with, existing government regulations or failure to obtain required permits or licenses; changes in business strategy or development plans; risks associated with operating and product hazards; the ability to attract and retain qualified personnel; and other factors. The forgoing list of factors is not exhaustive of the factors that may affect the actual outcome of events that are the subject of forward-looking statements.

Unless noted otherwise, all amounts are expressed in Canadian dollars.

For more details on CCL, visit our website -

Contact Information

  • CCL Industries Inc.
    Gaston Tano
    Senior Vice President and Chief Financial Officer
    (416) 756-8526