EXHIBIT 99.1
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BPI PACKAGING TECHNOLOGIES, INC.
ANNOUNCES APPOINTMENT OF IVAN J. HUGHES
AS ACTING CHIEF EXECUTIVE OFFICER
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NORTH DIGHTON, MASSACHUSETTS, AUGUST 3, 2000 - BPI Packaging
Technologies, Inc. (the "Company") OTC BB:BPIE, a manufacturer of thin high
molecular weight, high density polyethylene films and bags, announced that
it has appointed Ivan J. Hughes, the Company's Chairman of the Board of
Directors, to the position of Acting Chief Executive Officer. In such
capacity, Mr. Hughes will be responsible for the Company's day-to-day
operations.
Mr. Hughes became Chairman of the Board of Directors on January 27,
1999. Mr. Hughes has substantial experience in the Company's industry as
he has been employed, in various capacities over the past 36 years, by a
privately held company that manufactures grocery, shopping and specialty
bags. He presently serves on the Board of such company.
Mr. Hughes stated, "I am pleased to assume additional responsi-
bilities for the Company. I am confident that management, with the
assistance of the consulting firm of Brent I. Kugman and Associates, will
move the Company forward into long-term profitability."
The Company also announced the resignation of Mr. Blackett as Senior
Vice President of Sales, effective August 18, 2000. Mr. Hughes stated
that, "Management of the Company regrets that Mr. Blackett is leaving after
his pioneering efforts in expanding the Company's sales of its products.
However, we are confident that Ms. McGrath, our Vice President of Sales,
and the other representatives in the sales department will continue to
successfully promote and sell our products."
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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