Design Group Regulatory News (IGR)

15 Mar 2005 07:00

International Greetings PLC15 March 2005 15 March 2005 International Greetings plc Further European expansion International Greetings plc ("International Greetings" or "the Group") (AIM:IGR), the leading designer and manufacturer of private label greetings products,wrapping paper and film and television character based licensed stationeryannounces today that it has strengthened its position in Europe with thepurchase of a new 400,000 sq ft storage, manufacturing and distribution facilityfor its Dutch subsidiary Hoomark. Hoomark, which was acquired by the Company in November 2003 and produces giftwrap for the European market, will transfer its existing production and storagefacilities into the new site. The move will allow International Greetings tocontinue its expansion into mainland Europe and provide it with a transitionpoint to further develop sales into Eastern Europe. The new facility is based in Hoogeveen in Holland, which is ideally situated fordistribution throughout Europe. Commenting, Nick Fisher, joint chief executive of International Greetings said:"We have seen strong progress from Hoomark since we acquired it at the end of2003, but it can no longer continue to grow at its current location. The newsite is excellently situated in terms of providing access to mainland andEastern Europe and is large enough to accommodate both Hoomark's and the Group'sfuture expansion plans. We believe Europe represents an exciting opportunity forInternational Greetings and see this move as a significant step forward inachieving our ambitions there." For further information:Nick Fisher, International Greetings plc: 01707 630630Richard Sunderland, Tavistock Communications: 020 7920 3150 About International Greetings:International Greetings plc is a leading designer and manufacturer of privatelabel wrapping paper, greetings products and film and television character basedlicensed stationery. It currently has over 1,000 employees and produces giftwrapping paper, gift tags, ribbons, Christmas crackers, greeting cards and otherdecorative accessories. The Group provides wrapping paper and gift products to most of the majorhigh-street retailers and holds the licenses to produce merchandise for most ofthe well-known family blockbusters which have been released this year,including: Harry Potter and the Prisoner of Azkaban, Shrek 2, Thunderbirds andThe Incredibles. The Group is based in the UK and, in November 2003, strengthened its position inEurope through the acquisition of Hoomark, the Dutch based designer and manufacturerof gift wrapping paper. The Group also has successful operations in the UnitedStates, Hong Kong and, as part of its continued worldwide expansion, has recentlyopened facilities in China and Latvia. International Greetings was established in 1979. It listed on AIM in 1995 and iscurrently capitalised at about £166 million. Further information is available at www.internationalgreetings.co.uk This information is provided by RNS The company news service from the London Stock Exchange