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[LOGO -- INTERTAPE POLYMER GROUP]
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
Intertape Polymer Group Inc. Announces Stock Repurchase Program
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
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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.
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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):
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.
November 22, 2000
By: /s/ ANGELA MASSARO-FAIN
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Angela Massaro-Fain
Advertising and Investor Relations
Manager
Intertape Polymer Group Inc.
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November 22, 2000 NYSE SYMBOL: ITP
T.S.E. SYMBOL: ITP
INTERTAPE POLYMER GROUP INC.
ANNOUNCES
STOCK REPURCHASE PROGRAM
Montreal, Quebec, Canada, November 22, 2000 -- Intertape Polymer Group Inc.
(NYSE & TSE: ITP) announced today that its Board of Directors authorized to
repurchase some of its common shares outstanding on the Toronto Stock Exchange
(TSE) and the New York Stock Exchange (NYSE), beginning November 24, 2000. The
normal course issuer bid is subject to regulatory approval.
Under the bid, the Corporation may purchase for cancellation up to 1,421,100
shares. Intertape currently has 28,422,079 common shares presently outstanding,
and therefore this would represent approximately 5% of today's outstanding
shares. These purchases shall be made in accordance with applicable regulations
over a maximum period of 12 months beginning on November 24, 2000 and ending on
November 23, 2001. The Corporation has purchased 242,300 common shares under a
normal course issuer bid within the past 12 months.
Melbourne F. Yull, Intertape's Chairman and Chief Executive Officer stated: "We
believe that the purchase by the Corporation of its own shares may, in
appropriate circumstances, be a responsible investment of funds on hand.
Depending on market conditions, any purchases made will be made on that basis."
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 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.
- the Company's ability to successfully integrate the operations and
information systems of acquired companies with its existing, 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 publicity 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
E-mail: [email protected]
Web: www.intertapepolymer.com
