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EXHIBIT 99.1
CONSUMERS PACKAGING AND ANCHOR GLASS CONTAINER SETTLE
LITIGATION WITH OWENS-BROCKWAY
CONSUMERS PACKAGING AND AFFILIATES PROVIDE $3.8 MILLION CASH; RECEIVE
EXTENDED-TERM TECHNICAL ASSISTANCE AND LICENSE AGREEMENT FOR PRESENT TECHNOLOGY
WITH NO ROYALTY INCREASE AND PAID-UP LICENSE AT END OF TERM
TORONTO, Nov. 8--Consumers Packaging Inc. (Toronto Stock Exchange: CGC:TO) and
two U.S. affiliates, including Anchor Glass Container Corporation, have settled
all aspects of a protracted legal battle with licensor Owens-Brockway Glass
Container Inc. over a technical assistance and license agreement.
"This settlement puts this disruptive and costly dispute behind us," said John
J. Ghaznavi, chairman and chief executive officer of Consumers Packaging, Anchor
and Glenshaw Glass Company. "It's good news for our investors, customers,
suppliers and employees."
As part of the settlement reached Nov. 6, an amended technical assistance and
license agreement will be extended through 2005. The amended agreement will
cover technology now in place, at the same royalty rate. Upon expiration of the
agreement Consumers Packaging and its affiliates will receive a paid-up license
for that technology. Documentation for the agreement and mutual releases is
expected to be completed by Nov. 22.
Under the settlement Consumers Packaging, Anchor and Glenshaw will pay $5
million to Owens-Brockway. Consumers Packaging, Glenshaw and another affiliate
will receive a $1,213,000 refund of royalties paid previously under protest.
The settlement terminates all litigation over the matter, including a federal
court suit and an overseas lawsuit, as well as arbitration proceedings.
Based in Toronto, Consumers Packaging Inc. is a leading international designer
and manufacturer of glass containers, supplying beverage and food producers and
consumer-products manufacturers in Canada, the U.S. and abroad. Anchor Glass
Container Corp. is based in Tampa, Fl.; Glenshaw Glass Company is located near
Pittsburgh, Pa.
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CONTACT: C. Kent May, general counsel, 412/566-6037.
