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Press Release - AEP Industries Inc. (AEPI-NASDAQ) |
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“There are probably north of 300 extruders of flexible packaging in the United States and we are one of them. Many of those 300 are small operators, with an average capacity of less than 25 million pounds a year. We are one of the bigger ones, our production volume last year was in the area of 800 million pounds. The benefit of our size is that is that we can supply national accounts with an array of products with consistent properties across the country.” - Paul M. Feeney (AEPI) (Interview published May 25, 2007) |
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AEP Industries Inc. Sells Netherlands Subsidiary to Euro-M Flexible Packaging S.A. and Ghlin S.r.L. SOUTH HACKENSACK, N.J., April 4, 2008 /PRNewswire-FirstCall/ -- AEP Industries Inc. (Nasdaq: AEPI), a manufacturer, marketer and distributor of an extensive range of plastic packaging products for the food/beverage, industrial and agricultural markets, today announced that it has completed the sale of its subsidiary in the Netherlands, AEP Industries Nederland B.V., to Euro-M Flexible Packaging S.A. and Ghlin S.r.L ("the Buyers") for approximately $28 million in cash, before closing costs. The Buyers have also assumed all third party debt and the unfunded pension obligation of AEP Industries Nederland B.V. The company will provide further details about the transaction in a Form 8-K to be filed mid next week. AEP Industries Inc. manufactures, markets, and distributes an extensive range of plastic packaging products for the food/beverage, industrial and agricultural markets. The Company has operations throughout North America. Contact: Paul Feeney Executive Vice President, Finance and Chief Financial Officer AEP Industries Inc. (201) 807-2330 feeneyp@aepinc.com
SOURCE AEP Industries Inc. -0- 04/04/2008 /CONTACT: Paul Feeney, Executive Vice President, Finance and Chief Financial Officer of AEP Industries Inc., +1-201-807-2330, feeneyp@aepinc.com/ (AEPI)
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