CCL Industries Inc.

CCL Industries Inc.

April 28, 2011 08:12 ET

CCL Industries Signs Label and Tube License Agreement for Indonesia

TORONTO, ONTARIO--(Marketwire - April 28, 2011) - CCL Industries Inc. (TSX:CCL.A)(TSX:CCL.B), a world leader in specialty packaging solutions for the consumer products and healthcare industries, announced today that it has signed a license agreement with PT. Master Label, a privately owned Indonesian manufacturer of pressure sensitive labels and plastic tubes.

The agreement, effective May 1, 2011, grants Master Label exclusive rights to manufacture and sell CCL Label and CCL Tube products in the country of Indonesia under a licensing arrangement. Master Label has two plants located close to Jakarta with sales of approximately US$15 million and is the largest label converter located in Indonesia. The company will change its corporate identity to formats used in CCL's Label and Tube businesses as part of the licensing arrangement but will remain entirely privately owned.

Master Label and CCL Label Asia will cooperate to jointly serve many common customers and present a united buying organization to leverage procurement of materials and equipment across the region for the benefit of both companies.

Geoffrey Martin, President and CEO of CCL Industries said, "Master Label is the most respected name in the label industry in one of the largest and most important emerging markets in the world. We are pleased to bring our global customer relationships and technical know-how to this new and strategically important geographic territory for the company."

Dharmadi Bongso and Jeniaty Satjawiguna, the principals of Master Label both added "We are delighted to have the support of the world's largest company in these fields to help build our business in our home country. I am sure together we can deliver innovation and value for our many common customers in the region."

With headquarters in Toronto, Canada, CCL Industries now employs approximately 5,900 people in 62 plants 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 segments. CCL Container and CCL Tube are leading producers of aluminum aerosol cans, bottles and extruded plastic tubes for the consumer products industry in North America.

This press release contains forward-looking information and forward-looking statements, as defined under applicable securities laws, (hereinafter collectively referred to as "forward-looking statements") 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. Specifically, this press release contains forward-looking statements regarding the anticipated benefit of the licensing arrangement; and the Company's expectations regarding general business and economic conditions. 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 evolving 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 segments and entering into new segments; 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; and general business 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 MD&A section of CCL's 2010 Annual Report, particularly under Section 4: "Risks and Uncertainties". CCL's annual and quarterly reports can be found online at and 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.

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Contact Information

  • CCL Industries Inc.
    Gaston Tano
    Senior Vice President and Chief Financial Officer

    CCL Industries Inc.
    Geoffrey Martin
    President and Chief Executive Officer