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FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a - 16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of December, 1997
Intertape Polymer Group Inc.
110E Montee de Liesse, St. Laurent, Quebec, Canada, H4T 1N4
[Indicate by check mark whether the registrant files or
will file annual reports under over Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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[Indicate by check mark whether the registrant by
furnishing the information contained in this Form is also
thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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[If "Yes" is marked, indicate below the file number
assigned to the registrant in connection with Rule 12g3-2(b):
82-
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
INTERTAPE POLYMER GROUP INC.
December 19, 1997 By: /s/ Andrew M. Archibald C.A.
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Vice President, Finance &
Chief Financial Officer
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December 12, 1997
AMEX SYMBOL: ITP
T.S.E. SYMBOL: ITP
INTERTAPE POLYMER GROUP INC. ANNOUNCES
A NORMAL COURSE ISSUER BID
Montreal, Quebec, Canada, December 12, 1997 - Intertape Polymer Group Inc.
announces that, subject to regulatory approval, on December 16, 1997 it will
begin a normal course issuer bid to purchase some of its common shares on The
Toronto Stock Exchange and on the American Stock Exchange. Under the bid, the
Corporation may purchase up to 1,250,000 shares, representing approximately 5%
of the 25,019,921 common shares presently outstanding. These purchases shall be
made in accordance with applicable regulations over a maximum period of 12
months ending December 15, 1998. The directors of Intertape Polymer Group Inc.
believe that the purchase by the Corporation of its own shares may, in
appropriate circumstances, be a responsible investment of funds on hand, and any
purchases made will be made on that basis. The Corporation has not made a
normal course issuer bid within the past 12 months.
Intertape Polymer Group Inc. develops and manufacturers a variety of specialized
polyolefin plastic and paper based packaging products for industrial uses. The
Company is based in Montreal, Quebec with manufacturing facilities in nine North
American and one European location.
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FOR FURTHER INFORMATION PLEASE CONTACT: Melbourne F. Yull
Chairman & Chief Executive Officer
Intertape Polymer Group Inc.
Tel: (514) 731-0731
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December 16, 1997
AMEX SYMBOL: ITP
T.S.E. SYMBOL: ITP
INTERTAPE POLYMER GROUP INC. ANNOUNCES
THE ACQUISITION OF
AMERICAN TAPE CORPORATION
Montreal, Canada, December 15, 1997 - Intertape Polymer Group Inc. announced
today that it's US subsidiary has completed the previously announced agreement
with STC Corp., and has acquired all outstanding shares of American Tape
Corporation. American Tape manufactures an extensive line of pressure sensitive
tapes and shrink film with facilities located in Michigan and Kentucky. IPG
paid approximately US$43 million for 100% of the shares and re-financed American
Tape's long-term debt of approximately US$76 million.
Funding for this acquisition and refinancing was provided by Canadian and
American banks. IPG expects to repay these loans in the near future through the
issue of US$125 million ten-year debentures and still maintain short term
acquisition financing and credit facilities of some US$83 million for future
use.
The acquisition of American Tape is a major strategic move in expanding IPG's
existing product lines to provide better service and increase product supply to
its industrial customer base. American Tape is a leading producer of a full
range of masking and filament pressure sensitive tapes as well as specialty
tapes, products that IPG does not currently manufacture. In addition, American
Tape's 1,000+ customer base will broaden the scope of potential buyers for
Intertape products. There is a minimal percentage of overlap with current IPG
accounts. The acquisition will facilitate significant cost improvements due to
the elimination of duplicate overhead and staffing, while streamlining
distribution assets and a reduction of manufacturing and raw material costs.
This will provide a substantial opportunity for IPG to increase sales and
enhance its goal to remain a low-cost producer and global manufacturer.
Currently, the combined sales of both companies are approximately CDN$550
million.
Intertape Polymer Group Inc. develops and manufacturers a variety of specialized
polyolefin plastic and paper based packaging products for industrial uses. The
Company is based in Montreal, Canada and prior to this acquisition had
manufacturing facilities in nine North American and one European location.
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FOR FURTHER INFORMATION PLEASE CONTACT: Melbourne F. Yull
Chairman & Chief Executive Officer
Intertape Polymer Group Inc.
Tel: (514) 731-0731
