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Leicester, NY, May 17, 1999 - CPAC, Inc.
(Nasdaq NMM: CPAK) announces that its CPAC Europe subsidiary has recently signed an
agreement with TURA AG of Düren, West Germany, to manufacture photographic chemistry for
global distribution under the TURA name. TURA AG, privately held since 1901, supplies
photographic films, papers, and chemistries to customers in more than sixty countries
worldwide through a distribution network operating in thirty countries.
CPAC Europe will manufacture color and black & white
photographic chemistries for TURA's global distribution network at its recently expanded
43,900 ft2 (4,100 m2) manufacturing facility in Herentals, Belgium.
This agreement has the potential of increasing CPAC Europe's total chemistry sales by 6%
over the next twelve months and by as much as 10% per year thereafter.
According to Raf van Gils, President of CPAC Europe,
"In Tura we have found a perfect partner. Through their strong presence in Germany,
they provide us with an inroad to the German market. In addition, we benefit by gaining
access to certain export markets where we have had limited penetration."
TURA AG Chairman, Dr. Thilo Senst, comments, "We are
pleased to enter this agreement with CPAC Europe, whose commitment to maximum quality and
customer service matches our own. CPAC's premium chemistries are certain to increase our
share of the photographic chemical market, which greatly benefits both businesses. It is
TURA's policy to partner with reliable, innovative suppliers, so that we may provide our
customers a wide spectrum of quality photographic products."
CPAC Europe N.V., located in Herentals, Belgium,
manufactures photographic chemistry and distributes silver recovery equipment throughout
East and Western Europe, Africa, and the Middle East. CPAC Europe markets a complete line
of chemical products for photographic processing and services a growing private-label
program.
CPAC Imaging Group currently operates imaging chemical
manufacturing facilities in the United States, Belgium, Italy, and South Africa. CPAC
Asia, a new manufacturing facility in Bangkok, Thailand, will be operational in May 1999.
Founded in 1969, CPAC, Inc. produces and markets specialty
chemicals and is an acquirer, developer, and licensee of brand names for the imaging and
cleaning and personal care markets. Shares are traded over the NASDAQ National Market
System under the ticker symbol "CPAK." More information is available on the
Company’s Website: www.cpac-fuller.com.
Except for the historical matters contained herein,
statements in this press release are forward looking and are made pursuant to the safe
harbor provisions of the Securities Litigation Reform Act of 1995. Investors are cautioned
that forward looking statements involve risks and uncertainties which may affect
CPAC’s business and prospects, including economic, competitive, governmental,
technological, and other factors discussed in CPAC’s filings with the Securities and
Exchange Commission
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