April 05, 2006 16:31 ET

Winpak Sells Toronto Real Estate

WINNIPEG, MANITOBA--(CCNMatthews - April 5, 2006) - Winpak Ltd. (TSX:WPK) has entered into an agreement to sell the land and buildings at 85 Laird Drive, Toronto, Ontario. A portion of the business previously operated at that converting plant had been sold in 2005 and the remaining manufacturing was transferred to certain other Winpak locations.

Winpak anticipates that the net gain on sale will provide net earnings of approximately 6 cents (US) per share. The agreed closing date is May 15, 2006, and the sale transaction will be reported in the Company's interim financial statements for the second quarter, 2006.

Winpak manufactures and distributes high-quality packaging materials and innovative packaging machines that are sold in combination with packaging materials. The Company's products are used primarily for the protection of perishable foods, beverages, pharmaceuticals and in medical applications.

Contact Information

  • Winpak Ltd.
    M.G. Johnston
    Vice President & CFO
    (204) 831-2254
    Winpak Ltd.
    B.J. Berry
    President & CEO
    (204) 831-2216