Cosmo Films Ltd announces acqusition of GBC Commercial print finishing business

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 30, 2009 -- Cosmo Films Limited announced today that it has entered into an agreement to purchase the GBC Commercial Print Finishing business from ACCO Brands Corporation U.S.A. The acquisition, which is expected to close late in the second quarter of 2009, is subject to certain conditions precedent to closing including regulatory approvals. Terms of the transaction were not disclosed.
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With revenues of approximately $100 million, GBC Commercial Print Finishing is a leader in the industry, providing thermal lamination films and equipment in Europe, North America, Japan and the Pacific Rim. It has three manufacturing sites – Hagerstown in Maryland, USA, Kerkrade in Netherlands and Asan in Korea.

Cosmo Films Ltd is a leading manufacturer of BOPP and thermal lamination films with global sales of approximately $140 million. It is the largest exporter of BOPP films of India.

Ashok Jaipuria, Chairman and CEO of Cosmo Films, said, “The combination of Cosmo Films and the GBC Commercial print finishing business presents an exciting opportunity. By maximizing the strengths of both organizations we will have a vertically integrated, financially robust organization with broad management, sales and technical expertise. The combination will allow us to better serve our customers and bring in greater value to all our stakeholders.”

For more information, please contact:
Ms Zarin Darashaw
Hanmer MS&L Communications Pvt. Ltd
Tel No- 022- 67524650/ 9867373804
Email- zarin@hanmermsl.com