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ASX listed national packaging group, Pro-Pac Packaging Ltd (PPG) announced the purchase of the business and assets of Dysher Pty Limited trading as Goodman Packaging. Goodman Packaging is a long established Sydney and Perth based distributor of industrial packaging products with a strong focus on strapping machinery and consumables. The business has a current annualised turnover of approximately $6.5m and is complimentary to Pro-Pac’s existing strapping machinery and consumables business.

The purchase consideration will be funded from Pro-Pac’s existing cash resources and debt facilities and the acquisition is forecast to be immediately earnings accretive.  Commenting on the acquisition, Pro-Pac’s CEO, Brandon Penn, said “the purchase of the Goodman Packaging business not only provides Pro-Pac with an expanded customer base and enhanced capabilities in the strapping product category, but also provides the Pro-Pac group with an established Perth based operation facilitating the expansion of Pro-Pac’s distribution businesses in Western Australia.”

Pro-Pac Packaging Limited is a diversified manufacturing and distribution company, providing innovative, flexible and rigid packaging solutions for a broad group of customers.  PPG is headquartered in Sydney with operations in Adelaide, Brisbane and Melbourne. PPG’s securities are listed and quoted on the ASX.

www.ppgaust.com.au

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ASX listed national packaging group, Pro-Pac Packaging Ltd (PPG) today announced the purchase of the business and assets of long established Melbourne based film extruder, Ruscon Plastics Pty Ltd.  The business will be relocated and integrated into Pro-Pac’s new Victorian industrial packaging distribution and manufacturing site in Dandenong.

The integrated business will provide the group with an expanded range of extruded film products and the ability to provide further innovative solutions to the existing and new Pro- Pac customers. The business generates current turnover of approximately $5m per annum and is forecast to be earnings per share accretive in the 2011 financial year. The purchase consideration, related relocation costs and working capital investment will be funded from Pro-Pac’s existing cash resources and debt facilities.

Commenting on the acquisition, Pro-Pac’s CEO, Brandon Penn, said “The Ruscon purchase is another exciting step in Pro-Pac’s continued growth strategy, and this purchase will deliver significant benefits for Pro-Pac’s extruded film product category”.

Pro-Pac Packaging Limited is a diversified manufacturing and distribution company, providing innovative, flexible and rigid packaging solutions for a broad group of customers. PPG is headquartered in Sydney with operations in Adelaide, Brisbane and Melbourne.

www.ppgaust.com.au

Pro-Pac Packaging Ltd (PPG) today announced that, as part of its acquisition strategy, it had acquired all of the issued equity of Queensland- based Creative Packaging Pty Ltd. Creative Packaging is a manufacturer, converter and distributor of corrugated cardboard, cardboard boxes and packaging, predominantly servicing the Queensland market. The company has current revenue in excess of $10 million. The acquisition of Creative Packaging is forecast to be earnings accretive in the current financial year. The purchase consideration comprises cash and an issue of Pro-Pac shares at a deemed issue price of $0.35 per share. The cash component has been funded from Pro-Pac’s existing cash resources and debt facilities.

Commenting on the acquisition, Pro-Pac’s CEO, Brandon Penn, said ‘The Creative Packaging acquisition is a further exciting step in Pro-Pac’s continued growth strategy which includes the acquisition of complimentary industrial packaging solution businesses and should deliver both short and longer term benefits nationally for the Pro-Pac group’s cardboard product category.’

Pro-Pac Packaging Limited is a diversified manufacturing and distribution company, providing innovative, flexible and rigid packaging solutions for a broad group of customers. PPG is headquartered in Sydney with operations in Adelaide, Brisbane and Melbourne.

www.ppgaust.com.au

www.pro-pac.com.au