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Archive for November, 1998

AEP INDUSTRIES ANNOUNCES THE ACQUISITION OF TERMOFILM, SRL

Wednesday, November 4th, 1998

CONTACT: Paul Feeney
Executive Vice President and
Chief Financial Officer
(201) 807-2330
e-mail: feeneyp@aepinc.com

FOR IMMEDIATE RELEASE

SOUTH HACKENSACK, N.J., November 4, 1998 – AEP Industries Inc. (Nasdaq:AEPI) today announced that it has acquired Termofilm, Srl, an Italian manufacturer of PVC and Polyolefin shrink film. Termofilm, Srl will be operated as a separate unit within the company’s European Resinite Group. It is expected that Termofilm know-how, patents and technology will be made available to AEP’s business units throughout the world. Terms of the transaction were not disclosed.

In a related development, AEP Industries has terminated its strategic alliance with Amcel Corporation. John J. Powers, AEP’s Executive Vice President of Sales and Marketing, commented, “We have added significant internal capabilities that demand we take a more independent approach to growing our can liner business.”

AEP Industries Inc. manufactures, markets, and distributes an extensive range of plastic packaging products for the food/beverage, industrial and agricultural markets. The Company has operations in 11 countries throughout North America, Europe and Asia/Pacific.

Except for historical information contained herein, statements in the release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the Company’s actual results in future periods to differ materially from forecasted results. Those risks include, but are not limited to, risks associated with pricing, volume and conditions of markets. Those and other risks are described in the Company’s filings with the Securities and Exchange Commission (SEC) over the last 12 months, copies of which are available from the SEC or may be obtained upon request from the Company.