SHURTAPE TECHNOLOGIES, LLC ACQUIRES

PERMACEL’S ARTS AND ENTERTAINMENT DIVISION

HICKORY, N.C. – Sept. 9, 2004 – Shurtape Technologies, LLC announced today that it has purchased the Arts and Entertainment division of Permacel®. The move provides Shurtape with a more complete line of market leading products for the arts and entertainment industry and expands its offering of value-added products for special applications. The sale went into effect on Aug. 31.

“This acquisition is a logical fit for Shurtape,” said Jim Shuford, President and CEO of Shurtape. “The combination of Permacel with Shurtape branded products cements our position as the industry leader in adhesive tapes that are used in the production of movies, television and live entertainment events. With the dramatic expansion of satellite and cable delivered media content, we believe that this segment can generate solid growth for years to come.”

After years of surefooted organic growth, this is Shurtape’s second acquisition in 2004. Last April, Shurtape purchased the professional paint and industrial divisions of Concord, Ontario-based Tape Specialties Limited. The Permacel acquisition – like the Tape Specialties addition – moves Shurtape into the top tier in two key market segments.

Shurtape, headquartered in Hickory, N.C., is a leading global manufacturer of pressure sensitive tapes.  The company operates five manufacturing plants in the United States in addition to seven international subsidiaries.  Shurtape’s primary product lines include adhesive tapes made from paper, cloth, plastic films, metal foils and other specialty substrates.  The company markets these products to industrial, construction and retail customers as well as to specialty markets, such as arts and entertainment and healthcare.

 
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