EXHIBIT 99.1
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FOR IMMEDIATE RELEASE:
Contact:
Investor Relations
BPI Packaging Technologies, Inc.
800-628-8206
[email protected]
BPI PACKAGING TECHNOLOGIES, INC.
RETAINS FINANCIAL ADVISOR
NORTH DIGHTON, MASSACHUSETTS, SEPTEMBER 21, 2000 - BPI Packaging
Technologies, Inc. (the "Company") OTC BB:BPIE, a manufacturer of thin high
molecular weight, high density polyethylene films and bags, today reported
that it has retained Dresner Investment Services, Inc. ("Dresner"), as the
exclusive financial advisor to the Company to assist in evaluating various
strategic alternatives available to the Company, including its sale.
Dresner, a Chicago-based NASD broker-dealer, is one of the leading U.S.
investment banks focused on providing corporate finance and merger &
acquisition services to private and public, middle-market companies.
Management has engaged Dresner to help maximize stockholder value.
Management believes that it is in the best interests of the stockholders
that Dresner: (a) familiarize itself with the management, business,
operations, markets, financial condition and future opportunities of the
Company; and (b) identify and contact potential buyers and investors.
Mr. Ivan J. Hughes, the Company's Chairman and Acting Chief Executive
Officer stated that "we are confident that Dresner Investment Services will
help us identify the appropriate strategic alternative as we attempt to
maximize our stockholders' value."
The Company converts commercially available high molecular weight, high
density polyethylene resins into thin film, which is either sold directly
into industrial or packaging applications or converted in-house into
carryout bags of "T-shirt sack" design for supermarkets, convenience stores
and other retail markets. The Company utilizes advanced, high quality
extrusion, printing and bag making equipment, which was installed between
1990 and 1999.
Statements included in this update that are not historical in nature are
intended to be, and are hereby identified as, "forward-looking statements"
for purposes of the safe harbor provided by Section 21E of the Securities
Exchange Act of 1934, as amended by Public Law 104-67. Forward looking
statements may be identified by words including "anticipate," "believe,"
"intends," "estimates," "expect" and similar expressions. The Company
cautions readers that forward-looking statements including, without
limitation, those relating to the Company's future business prospects are
subject to certain risks and uncertainties that could cause actual results
to differ materially from those indicated in the forward-looking
statements, due to factors such as those relating to economic, competitive,
governmental, technological and other risks and factors identified from
time to time in the Company's reports filed with the SEC.
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