MONTREAL and SARASOTA, Fla., May 10, 2022 (GLOBE NEWSWIRE) -- Intertape Polymer Group Inc. (TSX:ITP) ("IPG" or the "Company") announces the opening of its newest facility in Widnes, United Kingdom ("UK"). The facility will be fully operational in the second quarter of 2022. This facility will service the growing need for sustainable packaging solutions in the region with a focus on the production and distribution of IPG's Curby Mailer.
"Growing our global footprint with the addition of the Widnes manufacturing facility positions IPG to service the e-fulfillment market with sustainable packaging products in the UK market. This state-of-the-art manufacturing facility is a great addition to the existing IPG suite of high performing facilities and sets the stage for IPG's growing presence in the European market," states Zach Kissel, VP of Global E-Fulfillment for IPG.
The Curby Mailer is a tri-laminated mailer employing a patented production process that allows for the mailer to use a paper honeycomb structure, encapsulated between an inner and outer layer of paper, to form a padded mailer. "This unique production methodology delivers cushioning performance from edge-to-edge and seam-to-seam, making the Curby Mailer the most effective form of sustainable replacement of bubble cushioning in the market," explained Kissel. Visit this link to learn more about the Curby Mailer - https://www.mycurby.com/en/curbyvideos.
IPG's Widnes manufacturing facility plans to install new Curby production lines to meet the needs of its customers in the market. As the business grows, the manufacturing facility will also serve as a distribution hub for the complete Curby line of sustainable packaging products to support the growing e-fulfillment market in the UK and Europe. In addition to the Curby Mailer, the complete Curby line includes IPG's water-activated tape, also known as gum tape, paper void fill solutions, and paper fragile wrapping solutions. IPG also intends to house machines designed to dispense its suite of sustainable packaging solutions and will serve as a service hub for its field service technicians in the UK.
ABOUT INTERTAPE POLYMER GROUP
Intertape Polymer Group Inc. is a recognized leader in the development, manufacture and sale of a variety of paper and film based pressure-sensitive and water-activated tapes, stretch and shrink films, protective packaging, woven and non-woven products and packaging machinery for industrial and retail use. Headquartered in Montreal, Québec and Sarasota, Florida, IPG employs approximately 4,200 employees with operations in 34 locations, including 22 manufacturing facilities in North America, five in Asia and two in Europe. For information about the Company, visit www.itape.com.
FORWARD-LOOKING INFORMATION
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (collectively, "forward-looking statements"), which are made in reliance upon the protections provided by such legislation for forward-looking statements. All statements other than statements of historical facts included in this press release, including but not limited to, statements regarding the Company's future use of the Widnes facility, the Company's future presence and performance in the UK and European markets, the Company's ability to have a service hub for field service technicians in the UK, the Company's installation of certain lines in the Widnes facility and ability to distribute certain products from the UK, may constitute forward-looking statements. These forward-looking statements are based on current beliefs, assumptions, expectations, estimates, forecasts and projections made by the Company's management. Words such as "may," "will," "should," "expect," "continue," "intend," "estimate," "anticipate," "plan," "foresee," "believe" or "seek" or the negatives of these terms or variations of them or similar terminology are intended to identify such forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, these statements, by their nature, involve risks and uncertainties and are not guarantees of future performance. Such statements are also subject to assumptions concerning, among other things: the expected satisfaction of closing conditions to the acquisition of the Company by the Purchaser, business conditions and growth or declines in the Company's industry, the Company's customers' industries and the general economy, including as a result of the impact of COVID-19; the anticipated benefits from the Company's greenfield developments, and other restructuring efforts; the anticipated benefits from the Company's manufacturing facility capacity expansions; the impact of fluctuations in raw material prices and freight costs including the availability and pricing due to supply chain disruptions; selling prices including maintaining dollar spread due to higher raw material and freight costs; the impacts of new accounting standards, including the impact of new accounting guidance for leases; the anticipated benefits from the Company's acquisitions and partnerships; the anticipated benefits from the Company's capital expenditures; the quality and market reception of the Company's products; the Company's anticipated business strategies; risks and costs inherent in litigation; legal and regulatory developments, including as related to COVID-19; the Company's ability to maintain and improve quality and customer service; anticipated trends in the Company's business; the expected strategic and financial benefits from the Company's ongoing capital investment and mergers and acquisitions programs; anticipated cash flows from the Company's operations; availability of funds under the Company's 2021 Credit Facility; the Company's flexibility to allocate capital as a result of the Senior Unsecured Notes offering; and the Company's ability to continue to control costs. The Company can give no assurance that these estimates and expectations will prove to have been correct. Actual outcomes and results may, and often do, differ from what is expressed, implied or projected in such forward-looking statements, and such differences may be material. Readers are cautioned not to place undue reliance on any forward-looking statement. For additional information regarding important factors that could cause actual results to differ materially from those expressed in these forward-looking statements and other risks and uncertainties, and the assumptions underlying the forward-looking statements, you are encouraged to read "Item 3 Key Information - Risk Factors", "Item 5 Operating and Financial Review and Prospects (Management's Discussion & Analysis)" and statements located elsewhere in the Company's annual report on Form 20-F for the year ended December 31, 2021 and the other statements and factors contained in the Company's filings with the Canadian securities regulators and the US Securities and Exchange Commission. Each of these forward-looking statements speaks only as of the date of this press release. The Company will not update these statements unless applicable securities laws require it to do so.
FOR INFORMATION, CONTACT:
Zach Kissel
VP of Global E-Fulfillment
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/65045a38-d064-4ac6-a1cc-a2be6095eab3
