Ampac Packaging announces acquisition of Flexicon, Inc.

Media Contacts:
John Baumann George Thomas Robert Biddle Sophia Dilberakis
Ampac Packaging Ampac Packaging Flexicon, Inc. SD Communications
(513) 671-1777 (513) 671-1777 (847) 639-3530 (312) 787-5800
jbaumann@ampaconline.com gthomas@ampaconline.com bobbiddle@flexiconinc.net sophiad@att.net
Ampac Packaging announces acquisition of Flexicon, Inc.
Cincinnati, OH (January 13, 2005) —Ampac Packaging, LLC (Ampac)
announced today that it has acquired Flexicon, Inc., Cary, IL for an undisclosed amount.
Flexicon is a leading manufacturer of high-performance, flexible packaging
materials for the pharmaceutical, medical, healthcare, chemical, food and industrial
markets. It is known for its technologically advanced, custom-engineered structures,
including adhesive laminations, Flexi-Free solventless laminations, heat-seal coated
rollstock, pouches, perforated tear products and 10-color, high resolution, flexographic
printing.
“We are looking to grow our consumer packaging business both organically and
through synergistic acquisitions. We believe that Flexicon is an ideal strategic
acquisition and will be an important cornerstone in helping Ampac achieve its long-term
consumer packaging growth goals,” explains John Baumann, chief executive officer and
president, Ampac Packaging.
“We have spent the past three decades building Flexicon into a flexible packaging
technology leader. We are confident that Ampac will be able to take our solid foundation
to the next level,” says Greg Baron, chief executive officer, Flexicon, Inc. Baron will
retire from Flexicon to pursue other interests.
Robert Biddle will continue as president of Flexicon, overseeing the company’s
60-plus person, Cary, IL, sales and manufacturing facility.
The Flexicon purchase comes on the heels of another Ampac packaging
acquisition. In July 2004, Ampac announced it acquired controlling interest of Kapak
Corp., Minneapolis, MN. Kapak specializes in a wide variety of flexible packaging
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Ampac/Flexicon acquisition
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structures, including preformed pouches, custom shapes, rollstock, spout fitments,
resealing options and state-of-the-art rotogravure graphics.
“This is a tremendous opportunity for Ampac to complement our existing film
and converting businesses. We know that Flexicon is a company that customers rely on
to solve their most challenging packaging problems. Flexicon’s strong presence in the
medical packaging segment, its expertise in laminations and its new flexographic printing
capability will enable Ampac to deliver an even wider range of products and services to
the markets we serve,” says George Thomas, vice president of business development for
Ampac and chief operating officer, Kapak.
Additionally, Ampac and Dow combined efforts recently to develop and produce
high barrier coextruded films containing Saran® resins, and multilayer films for retort
packaging. This capital investment by Ampac will provide the largest extruded
multilayer polyvinylidene chloride product line produced in North America.
Management together with equity backing by Key Principal Partners and
Pouschine Cook Capital Management owns Ampac. It is a diversified flexible packaging
company with seven operating sites in North America and Asia employing approximately
700 people globally. Ampac is the preeminent supplier of retail specialty plastic and
paper shopping bags as well as disposable security bags for the gaming, banking and law
enforcement markets.
In addition to the Kapak and Flexicon acquisitions, Ampac finalized the purchase
of Longview Fibre Co.’s (Longview, WA) bag business assets in October 2004.
Longview’s former Spanish Fork, UT facility now provides additional manufacturing
capacity for Ampac’s customers.
Ampac also produces a wide range of high-performance film structures for bags
and food packaging ranging from simple monolayers to complex nine-layer coextruded
barrier films. Manufacturing capabilities include blown film extrusion, graphic art
production and plate making, customized ink blending, flexographic printing up to eight
colors (four-color process) and converting finished product. For more information, visit
Ampac’s website at: www.ampaconline.com.
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Saran® is a trademark of The Dow Chemical Company