News

Archive for May, 2007

AEP INDUSTRIES INC. AND THIRD POINT LLC ANNOUNCE STOCK REPURCHASE AGREEMENT

Friday, May 4th, 2007

Contact: Paul Feeney
Executive Vice President
and Chief Financial Officer
AEP Industries
(201) 807-2330
feeneyp@aepinc.com

South Hackensack, NJ, May 4, 2007 – AEP Industries Inc. (NASDAQ: AEPI), announced today an agreement with Third Point LLC and affiliates for the repurchase of 300,000 shares of its stock at $44.00 per share based on the close of the stock market on May 3, 2007.  Mr. Brendan Barba, Chairman and Chief Executive Officer of the Company, said, “We are happy to have the opportunity to make this investment in our own Company at this time and believe this transaction is in the best interests of all AEP shareholders.”

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 throughout North America and Europe.

AEP INDUSTRIES INC. EXPLORING STRATEGIC ALTERNATIVES FOR ITS NETHERLANDS SUBSIDIARY

Wednesday, May 2nd, 2007

Contact: Paul Feeney
Executive Vice President
and Chief Financial Officer
AEP Industries
(201) 807-2330
feeneyp@aepinc.com

South Hackensack, NJ, May 2, 2007 — AEP Industries Inc. (Nasdaq: AEPI, the “Company”) today announced that it is exploring strategic alternatives for its subsidiary in the Netherlands, AEP Industries Nederland B.V.  AEP has hired investment bankers from ABN AMRO to assist the company with the process.

The Company noted that there can be no assurances that the exploration of strategic alternatives will result in a consummated transaction. AEP Industries does not intend to disclose developments with respect to this process unless and until the Board of Directors has approved a specific transaction or course of action.

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 throughout North America and Europe.