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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 Press Release "Intertape Polymer Group Inc. Announces Closing
of United Tape Company Acquisition"
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 quarterly
reports under Cover Form 20-F or Form 40-F
Form 20-F (X) Form 40-F ( )
(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)
(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
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.
September 28, 2000 By: /s/ Angela Massaro-Fain
-----------------------------------
Angela Massaro-Fain
Advertising and Investor Relations Manager
Intertape Polymer Group Inc.
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[LOGO - Intertape Polymer Group Inc.]
September 28, 2000 NYSE SYMBOL: ITP
TSE SYMBOL: ITP
INTERTAPE POLYMER GROUP INC.
ANNOUNCES CLOSING OF
UNITED TAPE COMPANY ACQUISITION
Montreal, Quebec, Canada, September 28, 2000 -- Intertape Polymer Group Inc.
(IPG) a leader in the packaging industry, confirmed today that it has closed the
acquisition of Olympian Tape Sales, Inc., currently doing business as United
Tape Company (United Tape). This follows the recent approval from the U.S.
Federal Trade Commission (FTC) regarding the original acquisition announcement
of August 28, 2000.
United Tape is a supplier of a wide range of packaging products to the retail
market, with operations in Georgia and California. Commenting on the
announcement, Melbourne F. Yull, Intertape Polymer Group Inc.'s Chairman and
Chief Executive Officer said "This acquisition will provide new opportunities
and strengthen United Tape and IPG's position in the retail market. United Tape
will now carry the recognition of Intertape's quality manufacturing, while
Intertape Polymer Group gains access to new distribution channels within this
business sector."
Andrew M. Archibald, C.A., Chief Financial Officer shared Mr. Yull's enthusiasm
"The Company expects to immediately realize the synergistic benefits of the
acquisition, which continues to solidify IPG's goal of internal organic growth
and growth through acquisition."
Intertape Polymer Group Inc. develops, manufactures and markets a wide variety
of specialized polyolefin plastic and paper based packaging products and systems
for industrial and retail use. The Company is based in Montreal, Quebec and
Sarasota, Florida. With the completion of the acquisition, IPG will maintain
facilities in twenty North American and one European location.
THIS RELEASE CONTAINS STATEMENTS THAT ARE FORWARD-LOOKING WITHIN THE
MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933 AND SECTION 21E OF THE
SECURITIES EXCHANGE ACT OF 1934. FORWARD-LOOKING STATEMENTS INVOLVE KNOWN
AND UNKNOWN RISKS AND UNCERTAINTIES, WHICH MAY CAUSE THE COMPANY'S ACTUAL
RESULTS IN FUTURE PERIODS TO DIFFER MATERIALLY FROM FORECASTED RESULTS OR
FORWARD-LOOKING STATEMENTS. THOSE RISKS AND UNCERTAINTIES INCLUDE, BUT ARE
NOT LIMITED TO:
-- RISKS ASSOCIATED WITH PRICING, VOLUME AND CONTINUED STRENGTH OF MARKETS
WHERE THE COMPANY'S PRODUCTS ARE SOLD, AND THE TIMING AND ACCEPTANCE OF NEW
PRODUCT OFFERINGS.
-- ACTIONS OF COMPETITORS AS ARE DESCRIBED IN THE COMPANY'S FILINGS WITH THE
SECURITIES AND EXCHANGE COMMISSION (SEC) OVER THE LAST TWELVE MONTHS.
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[LOGO - Intertape Polymer Group Inc.]
-- THE COMPANY'S ABILITY TO SUCCESSFULLY INTEGRATE THE OPERATIONS AND
INFORMATION SYSTEMS OF ACQUIRED COMPANIES WITH ITS EXISTING OPERATIONS, AND
INFORMATION SYSTEM, INCLUDING RISKS AND UNCERTAINTIES RELATING TO ITS
ABILITY TO ACHIEVE PROJECTED EARNINGS ESTIMATES, ACHIEVE ADMINISTRATIVE AND
OPERATING COST SAVINGS AND ANTICIPATE SYNERGIES.
-- THE EFFECT OF COMPETITION AND RAW MATERIAL PRICING ON THE COMPANY'S ABILITY
TO MAINTAIN MARGINS ON EXISTING OR ACQUIRED OPERATIONS.
THE COMPANY DOES NOT UNDERTAKE TO PUBLICLY UPDATE OR REVISE ITS FORWARD-LOOKING
STATEMENTS EVEN IF EXPERIENCE OR FUTURE CHANGES MAKE IT CLEAR THAT ANY PROJECTED
RESULTS EXPRESSED OR IMPLIED THEREIN WILL NOT BE REALIZED.
FOR FURTHER INFORMATION CONTACT: Melbourne F. Yull
Chairman and Chief Executive Officer
Intertape Polymer Group Inc.
Tel: (514) 731-0731
Email: [email protected]
Web Site: www.intertapepolymer.com
