Paxar Acquires the Business of Alkahn Labels, Inc.

Paxar Corporation has acquired the business and assets of Alkahn Labels, Inc.,including all of the equity of Alkahn-Hong Kong Limited, for $25 million plus the assumption of certain trade liabilities. Alkahn, which produces woven labels at facilities in West Virginia, South Carolina and Hong Kong, had sales in 2002 of approximately $45 million.

Arthur Hershaft, chairman and CEO of Paxar, said, ‘Alkahn is a company that has a long history and a great reputation as a leader in the U.S. woven label business. This acquisition, which will afford many synergies and cost reduction opportunities, is strategically significant in that it will provide us with an exceptionally strong platform to grow our woven label business. Woven labels are a critical part of Paxar's product offering because they support the brand image for many of our customers.’