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Archive for August, 2000

AEP INDUSTRIES ANNOUNCES CLOSURE Of EUROPEAN MANUFACTURING FACILITY

Thursday, August 3rd, 2000

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

FOR IMMEDIATE RELEASE

South Hackensack, NJ, August 3, 2000 -AEP Industries Inc. (Nasdaq: AEPI, the “Company”) today announced the closure of its North Baddesley, England manufacturing facility. It is expected that this closure, to be fully implemented by mid 2001, will result in the loss of 32 manufacturing jobs at the site and a charge to current operations estimated to be $4,318,000.

“The North Baddesley plant is very small and inefficient, it is land-locked and therefore cannot be expanded to provide the Company adequate economies of scale. We anticipate significant operating efficiencies resulting from the consolidation of this production capacity into our other facilities,” commented J. Brendan Barba, Chairman and Chief Executive Officer of AEP.

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 from the Company.