Ennis Acquires Certain Assets Of Atlas Tag & Label, Inc.
Ennis, Inc. (NYSE: EBF), a manufacturer of printed business products & apparel headquartered in Midlothian, Texas, has acquired certain assets of Atlas Tag & Label, Inc., headquartered in Neenah, WI. No significant liabilities were assumed in the transactions and the transaction closed on September 30, 2010.
The operation will operate under the trade name Atlas Tag & Label. The acquisition is expected to be accretive to Ennis' earnings in the first full year of operations and will expand the Company’s capabilities in the tag and label product lines sold through the indirect sales (distributorship) marketplace.
The majority of Atlas Tag & Label Inc.’s employees have been offered positions with Ennis’ new operation. Customers can continue contacting Atlas under the same methods. No changes to the day to day operations have been made and Atlas will continue to operate in the same facility.
Keith Walters, Chairman, President and CEO of Ennis, said, "Atlas Tag & Label is an exciting addition to the Ennis family. This acquisition expands our tag and label capabilities and capacity while adding new customers. Like Ennis, Atlas has been serving the distributor market for more than 80 years, and we feel this addition will positively impact customers of both companies.”About Ennis Ennis, Inc. ( www.ennis.com) is primarily engaged in the production of and sale of business forms, apparel and other business products. The Company is one of the largest private-label printed business product suppliers in the United States. Headquartered in Midlothian, Texas, the Company has production and distribution facilities strategically located throughout the United States of America, Mexico and Canada, to serve the Company’s national network of distributors. The Company, together with its subsidiaries, operates in two business segments: the Print Segment ("Print") and Apparel Segment ("Apparel"). The Print Segment is primarily engaged in the business of manufacturing and selling business forms, other printed business products, printed and electronic media, presentation products, flex-o-graphic printing, advertising specialties and Post-it® Notes, internal bank forms, secure and negotiable documents, envelopes and other custom products. The Apparel Segment manufactures T-Shirts and distributes T-Shirts and other active-wear apparel through six distribution centers located throughout North America. Safe Harbor Under The Private Securities Litigation Reform Act of 1995 Certain statements contained in this press release that are not historical facts are forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. The words “anticipate,” “preliminary,” “expect,” “believe,” “intend” and similar expressions identify forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for such forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. These statements are subject to numerous uncertainties, which include, but are not limited to, the Company’s ability to effectively manage its business functions while growing its business in a rapidly changing environment, the Company’s ability to adapt and expand its services in such an environment, the variability in the prices of paper and other raw materials. Other important information regarding factors that may affect the Company’s future performance is included in the public reports that the Company files with the Securities and Exchange Commission. The Company undertakes no obligation to revise any forward-looking statements or to update them to reflect events or circumstances occurring after the date of this release, or to reflect the occurrence of unanticipated events. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material.
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