Abrdn Property Regulatory News (API)

23 Sep 2005 07:01

API Group PLC23 September 2005 23 September 2005 API GROUP PLC API ACQUIRES GERMAN FOIL DISTRIBUTOR API Group plc, the specialist packaging group, announced today that it hassigned an agreement to acquire the entire share capital of MEPA-S GmbH, aleading distributor of foil products in Germany, for cash consideration of €1.5million. Based near Nuremburg, MEPA is a long-established and well regarded distributor,selling both API and competitors products. The acquisition is in line withAPI's strategy of strengthening the Group's position as a supplier ofreflective-surfaced packaging materials for premium branded goods in its keymarkets - the US, Europe and Far East. Commenting on the acquisition, API Chief Executive David Walton said: "API has enjoyed a long, successful and mutually profitable trading relationshipwith MEPA. This acquisition results from our strategy of securing channels tomarket for our foils business. In addition to providing us with opportunities tosell more of our products, it will enable us to compete more effectively withother major manufacturers in the large and strategically important German andCentral European markets." ENDS For further information, contact: David Walton, Chief Executive, API Group plc 020 7653 3300 Tim Spratt/Caroline Wells, Financial Dynamics 020 7831 3113 This information is provided by RNS The company news service from the London Stock Exchange