CCL Industries to invest in JV label company

 CCL Industries Inc. announced today that it has signed a binding agreement to acquire a 50% interest in Pacman-CCL, a privately owned group of label companies based in Dubai, UAE with additional operations in Egypt and Oman. Pacman-CCL has been a license holder of CCL Label since 2009. The Agreement also binds CCL and Albwardy to complete an investment in a new facility currently under construction in Jeddah, Saudi Arabia in 2011 with an estimated total cost of $4 million to be funded by a combination of debt and additional equity in the new operation shared equally by the parties.
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