Seattle, WA, USA--(Jobwerx News)--Global packaging solutions provider now focusing on label and container segments in the personal care market.

Packaging provider, CCl Industries Inc., announces the completion of the sale of its North American Custom Manufacturing Division to KCP Income Fund.

CCL packaging solutions include specialty aluminum containers, plastic tubes and closures and innovative product labelling to some of the world’s largest producers of consumer brands.

The Cdn $273 million cash transaction with KCP Fund will strengthen CCL's financial position including revenues generated by Steinbeis Packaging, the label acquisition completed in January 2005 and positive contributions from ColepCCL.

The North American Custom Manufacturing Division generated sales of Cdn $604.6 million in 2004 and accounted for Cdn $26.6 million of CCL's consolidated operating income. With the sale completed, CCL's annualized revenues will still be in excess of Cdn $1.0 billion.

CCL management believes this initiative will help position the Company to achieve valuations for its common shares that are more comparable with its publicly traded North American specialty packaging peers. CCL anticipates recording an after tax gain on this disposition of approximately Cdn $100 million or Cdn $3.00 a share.

The Company is also pleased to confirm the appointment of Geoffrey Martin to the position of President and Chief Operating Officer, expanding his responsibilities to include all operations of the new CCL. Donald Lang is appointed to the new role of Vice Chairman of the Board and retains his responsibilities as Chief Executive Officer. Both appointments were announced in April in conjunction with the announcement of the sale of the North American Custom Manufacturing Division.

CCL develops and provides specialty packaging solutions for producers of leading consumer brands in personal care, cosmetics, pharmaceutical, household and specialty food and beverage products. With headquarters in Toronto, Canada, CCL directly employs 4,000 people and directly operates 38 production facilities in North America, Europe and Asia.

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