- Represents ongoing commitment to service
customers locally -
WHITE PLAINS, NY, June 16, 2005 — Paxar Corporation
(NYSE: PXR) announced today that it formed
Paxar India Pvt Limited by acquiring the remaining
50% of a joint venture located in Bangalore,
India.
The company is a full service provider of
apparel identification products, including
woven, printed and bar code labels, and merchandising
tags for retailers and apparel customers manufacturing
in India. Paxar India's facilities also include
service bureau operations, in addition to
sales and marketing. In 2004, the business
generated approximately $10 million in sales.
Rob van der Merwe, President and Chief Executive
Officer of Paxar, stated, "We believe
the growth opportunities in India are substantial.
Completing this acquisition strengthens Paxar's
position as a leading provider of identification
solutions in one of the world's fastest growing
apparel markets.
"We look forward to servicing our customers
sourcing in India by being close at hand to
support them as their business needs dictate."
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