EX-99.1
3
a08-2160_1ex99d1.htm
EX-99.1
Exhibit
99.1
UFP Technologies, Inc.
172 East Main
Street
Georgetown, MA 01833 - USA
Tel. 978-352-2200 /
Fax 978-352-5616
INFO@UFPT.COM / WWW.UFPT.COM
FOR IMMEDIATE RELEASE
CONTACT:
January 18, 2008
Ron Lataille (978)
352-2200
UFP Technologies
Acquires Stephenson & Lawyer, Inc.
Georgetown, Mass. (January 18,
2008). UFP Technologies, Inc.
(Nasdaq: UFPT), a manufacturer of packaging and specialty component products,
today announced the acquisition of Stephenson & Lawyer, Inc. located
in Grand Rapids, Michigan. S&L is a full service designer, converter and
distributor of foam plastic products, specializing in technical polyurethane
foams. S&L sales in 2007 were
approximately $13 million.
"We are delighted to join
forces with Stephenson & Lawyer", said R. Jeffrey Bailly, Chairman,
CEO, and President of UFP Technologies. "Since
its inception in 1946, S&L has been a respected leader in the fabrication
of polyurethane foams. Their ethical, innovative, and highly customer-focused
management team is an excellent fit with our culture. And their well-equipped,
250,000 square foot factory adds significantly to our manufacturing
capabilities. Together, we can provide a broader range of solutions to our
growing customer base, and unlock S&L's tremendous growth potential".
Stephenson &
Lawyer's President, Con Oswald, was equally pleased. "UFP's diverse
capabilities, large sales force, and reputation for quality are a great fit for
S&L", said Oswald. "Their polyethylene foams expertise is an ideal
complement to our primary strength - our knowledge and experience in technical
urethane foams".
UFP Technologies is a
leading designer and manufacturer of interior protective packaging solutions
using molded fiber, vacuum-formed plastics, and molded and fabricated foam
plastics. The Company also designs and
manufactures engineered component solutions using laminating, molding, and
fabricating technologies. The Company
primarily serves the automotive, computers and electronics, medical, aerospace
and defense, consumer, and industrial markets.
This
news release contains forward-looking information that involves risks and
uncertainties, including statements about the Company's prospects, anticipated
advantages the Company expects to realize from its acquisition and integration
of Stephenson & Lawyer, the Company's manufacturing capabilities,
product offerings and growth potential and the Company's sales
opportunities. Investors are cautioned
that such forward-looking statements involve risks and uncertainties, including
without limitation risks associated with the identification of suitable
acquisition candidates and the successful, efficient execution and integration
of such acquisition candidates, including without limitation Stephenson &
Lawyer, as well as other risks and uncertainties that are detailed in the
documents filed by the Company with the SEC. Accordingly, actual results may
differ materially. Readers are referred to the documents filed by the Company
with the SEC, specifically the last reports on Forms 10-K and 10-Q. The
forward-looking statements contained herein speak only of the Company's
expectations as of the date of this press release. The Company expressly
disclaims any obligation or undertaking to release publicly any updates or
revisions to any such statement to reflect any change in the Company's
expectations or any change in events, conditions or circumstances on which any
such statement is based.

EX - 99 . 1 3 a08 - 2160 _ 1ex99d1 . htm EX - 99 . 1 Exhibit 99 . 1 UFP Technologies , Inc . 172 East Main Street Georgetown , MA 01833 - USA Tel . 978 - 352 - 2200 / Fax 978 - 352 - 5616 INFO@UFPT.COM / WWW.UFPT.COM FOR IMMEDIATE RELEASE CONTACT : January 18 , 2008 Ron Lataille ( 978 ) 352 - 2200 UFP Technologies Acquires Stephenson & Lawyer , Inc . Georgetown , Mass . ( January 18 , 2008 ) . UFP Technologies , Inc . ( Nasdaq : UFPT ) , a manufacturer of packaging and specialty component products , today announced the acquisition of Stephenson & Lawyer , Inc . located in Grand Rapids , Michigan . S & L is a full service designer , converter and distributor of foam plastic products , specializing in technical polyurethane foams . S & L sales in 2007 were approximately $ 13 million . " We are delighted to join forces with Stephenson & Lawyer " , said R . Jeffrey Bailly , Chairman , CEO , and President of UFP Technologies . " Since its inception in 1946 , S & L has been a respected leader in the fabrication of polyurethane foams . Their ethical , innovative , and highly customer - focused management team is an excellent fit with our culture . And their well - equipped , 250,000 square foot factory adds significantly to our manufacturing capabilities . Together , we can provide a broader range of solutions to our growing customer base , and unlock S & L 's tremendous growth potential " . Stephenson & Lawyer 's President , Con Oswald , was equally pleased . " UFP ' s diverse capabilities , large sales force , and reputation for quality are a great fit for S & L " , said Oswald . " Their polyethylene foams expertise is an ideal complement to our primary strength - our knowledge and experience in technical urethane foams " . UFP Technologies is a leading designer and manufacturer of interior protective packaging solutions using molded fiber , vacuum - formed plastics , and molded and fabricated foam plastics . The Company also designs and manufactures engineered component solutions using laminating , molding , and fabricating technologies . The Company primarily serves the automotive , computers and electronics , medical , aerospace and defense , consumer , and industrial markets . This news release contains forward - looking information that involves risks and uncertainties , including statements about the Company 's prospects , anticipated advantages the Company expects to realize from its acquisition and integration of Stephenson & Lawyer , the Company ' s manufacturing capabilities , product offerings and growth potential and the Company 's sales opportunities . Investors are cautioned that such forward - looking statements involve risks and uncertainties , including without limitation risks associated with the identification of suitable acquisition candidates and the successful , efficient execution and integration of such acquisition candidates , including without limitation Stephenson & Lawyer , as well as other risks and uncertainties that are detailed in the documents filed by the Company with the SEC . Accordingly , actual results may differ materially . Readers are referred to the documents filed by the Company with the SEC , specifically the last reports on Forms 10 - K and 10 - Q . The forward - looking statements contained herein speak only of the Company 's expectations as of the date of this press release . The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company 's expectations or any change in events , conditions or circumstances on which any such statement is based .
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