Clarification announcement on the corporate developments in the adhesive tapes business

Following the company’s “M.J. MAILLIS SA Packing Systems” announcement about the shutdown of the adhesive tapes production process at the “Straptech SA Packing Systems and Materials” facility and to further inform the investors, the company would like to clarify that it continues to manufacture edgeboards and cores at its production facility in Alexandroupoli.

Furthermore, the turnover of adhesive tapes does not exceed 4 Million annually and, according to the 2008 results, the turnover of adhesive tapes for STRAPTECH AE amounts to 22.25% of its total turnover whereas for the MAILLIS GROUP it amounts to 1.22% of the total consolidated turnover.

The shutdown of its adhesive tapes production process will not affect the Group’s turnover as it will continue, as previously announced, to participate in the adhesive tape market by supplying the same products through its existing distribution network and would like to repeat that these steps are part of the continuous actions taken to reduce costs and improve the Group’s profitability.