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Exhibit 99(a)(5)(ix)
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PRESS RELEASE
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[PERKINS L0GO] PERKINS [WYANT LOGO]
Cascades Group WYANT CORPORATION
PERKINS PAPERS LTD. COMPLETES ACQUISITION OF WYANT CORPORATION
CANDIAC (QUEBEC) NOVEMBER 17, 2000 -- Perkins Papers Ltd. (TSE, symbol: PKN) and
Wyant Corporation (NASDAQ Small Cap, symbol: WYNT) announced today that Perkins
had completed its acquisition of Wyant by merging Perkins's wholly owned
subsidiary, Perkins Acquisition Corp., with and into Wyant, with Wyant being the
surviving corporation. As a result of the merger, Wyant Corporation has become a
wholly owned subsidiary of Perkins Papers Ltd.
Shares of Wyant common stock which were not tendered in the tender offer by
Perkins for Wyant (other than shares owned by stockholders, if any, who are
entitled to and who properly exercise appraisal rights under New York law) have
been converted by virtue of the merger into the right to receive $4.00 per share
in cash. As soon as practicable a Notice of Merger and Appraisal Rights and
Information Circular and a Letter of Transmittal to be used for surrendering
certificates in exchange for the cash payment will be sent to holders of record
who did not tender their shares in the tender offer.
Wyant has requested the delisting of its stock with The NASDAQ Stock Market,
and the stock has been so delisted. As soon as practicable, Wyant will be
requesting the deregistering of its stock with the U.S. Securities and
Exchange Commission.
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Perkins Papers Ltd. is the second largest producer of tissue paper in Canada and
the seventh largest in North America. Perkins operates six mills and converting
plants, five of which are located in Quebec and one in North Carolina, with a
workforce of 950 employees. Perkins's industrial infrastructure includes eight
paper machines with a combined annual capacity of 262,000 short tonnes of tissue
paper. The Corporation also operates 38 converting units. A large share of its
production is converted into finished and semi-finished products such as
bathroom tissue, household towels, facial tissue, napkins and hand towels. To
complete its product lines, Perkins also produces folding cartons and kraft
paper bags. The Company sells its products under its own brand names such as,
Cascades(R), Satin Soft(R), Doucelle(R), Decor(R), North River(R), Perkins(R)
and Horizon(R) as well as under private labels. Perkins trades on the Toronto
Stock Exchange under the symbol PKN.
Wyant Corporation is an integrated sanitation and facility maintenance supply
company with extensive manufacturing, sales and distribution capabilities,
employing approximately 475 people in Canada and the United States through its
two subsidiaries, Wood Wyant Inc. and IFC Disposables, Inc.
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FOR FURTHER INFORMATION:
Ms. Suzanne Blanchet Mr. Donald C. MacMartin
President and Chief Executive Officer Chairman and Chief Executive Officer
Perkins Papers Ltd. Wyant Corporation
(450) 444-6400 (514) 636-9926
[email protected] [email protected]
WEB SITE: www.perkins.ca
www.wyantcorp.com
