- September 12, 2001, PRESS RELEASE
PAINESVILLE, OH, USA—Avery Dennison Corp. reports it's reached a definitive agreement with Jackstädt GmbH to acquire Jackstädt's pressure-sensitive adhesive materials business. According to the company, the transaction is subject to a number of closing conditions, but is expected to close the fourth quarter of this year.
Philip M Neal, Avery Dennison chairman and CEO, says of the acquisition: "With strong long-standing on customer relationships, excellent technology, and a tradition of quality products, Jackstädt will enhance [the company's] core pressure-sensitive materials business. Jackstädt will complement our activities in key areas, including Asia, Latin America, and Europe, and especially will enhance our ability to grow in Eastern Europe."
According to the manufacturer, Jackstädt was founded in 1920 and began producing self-adhesive papers in 1949. Today, Jackstädt operates 10 manufacturing facilities worldwide and employs a workforce of 2,140, approximately half of which are based in Germany.
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