Corporate Developments Announcement

The company “M.J. MAILLIS SA Packing Systems” announces the shutdown of its adhesive tapes production process at the “Straptech SA Packing Systems and Materials” facility. Straptech will continue to participate in the adhesive tapes market through a strategic alliance supply agreement with Atlas Tapes SA , a dedicated and strategically important tape manufacturer.

These steps are part of the continuous actions taken to reduce costs and improve the Group’s profitability, that is currently under pressure brought on by the negative global economic conditions.