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[Letterhead]
FOR IMMEDIATE RELEASE MEDIA INQUIRIES: CINDY RAINES
OCTOBER 6, 2000 (865) 584-0550 or [email protected]
MOLL INDUSTRIES, INC. SELLS ITS COSMETICS PACKAGING
DIVISION TO FOCUS ON CORE INDUSTRIES
KNOXVILLE, TN -- Moll Industries, Inc. announced today the signing of
a purchase and sale agreement relating to the sale of its Cosmetics Packaging
Division to affiliates of Techpack, a subsidiary of European-based Pechiney,
S.A. The closing of the transaction is scheduled for the end of October, and
will include specified assets of Moll relating to its Cosmetics Packaging
Division, including Cepillos de Matamoros, Moll's wholly-owned Mexican
subsidiary. The purchase and sale is subject to customary adjustments and
closing conditions, including obtaining antitrust clearance.
"Although the Cosmetics Packaging Division has been a growing facet of
our company, its sale allows us to concentrate on our core industries,
specifically medical, telecom and industrial custom molding - all of which are
experiencing growth," said George Votis, Moll's chief executive officer.
Sales for the Cosmetics Packaging Division in 1999 were $47 million,
nearly 12 percent of Moll's $398 million global revenue.
Pechiney is a global producer of packaging products, including personal
care packaging.
Techpack is one of the world's foremost manufacturers of value-added
plastic packaging for perfumes and cosmetics, such as lipsticks, cases for
mascara and other products, closures, bottles, promotional products, and
dispenser jars.
Moll Industries, Inc. is a leading, full-service manufacturer and
designer of custom molded and assembled plastic components for a broad array of
customers and end markets throughout North America and Europe. Products using
Moll's plastics components are sold in a wide range of end markets, including
end markets for consumer products, telecommunications/business equipment,
household appliances, automobiles and medical devices.
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