CCL.B CCL Industries Inc

CCL Industries Inc. ("CCL") (TSX:CCL.A)(TSX:CCL.B), a world leader in specialty
label and packaging solutions for global corporations, small businesses and
consumers, announced today that it plans to permanently close its Canadian
aerosol manufacturing operation commencing in the first half of 2014 and
completing no later than mid-2015.


Geoffrey T. Martin, President & CEO of CCL Industries said, "It is with great
regret that we are announcing this news. Our operation in Ontario now exports
its entire output into the United States; distance from key customers and the
step change rise of the Canadian dollar over the last decade combined to
significantly impede competitiveness. The plant has been unprofitable since 2009
and posted sizable losses during the economic crisis years. Although results
improved in 2012 and 2013, the operation continues to make losses; consequently
we feel it is now time to make this difficult decision."


Mr. Martin commented, "In addition to appropriate severance and other benefits,
we will do our very best to help the 170 employees at the site develop their
personal transition plans. Many of them have long tenure with CCL so early
notice of the closure gives reasonable time to consider options. These will
include outplacement assistance embracing, where possible, international
transfers within CCL Container and domestic opportunities at our CCL Label and
Avery business units as we simultaneously expand their manufacturing operations
in both Toronto and Montreal." 


Mr. Martin continued, "CCL Container will consolidate the sales volume from the
Canadian plant into its existing operations in the United States and Mexico,
investing approximately $25 million in required capacity and infrastructure
additions at its Hermitage, Pennsylvania and Guanajuato sites over 2014 and
2015. This includes the previously announced new aerosol production line planned
for installation in mid-2014. The Company will record a pre-tax one-time
restructuring charge of $11 million during the fourth quarter of 2013 to provide
for the closure costs with approximately 40% in non-cash asset write downs and
the balance largely in employee severance. In addition, we expect to expense
approximately $4 million from mid-2014 through the first half of 2015 in other
one-time transition costs. CCL Container is targeting an increase of $10 million
to its current annualized EBITDA run rate of approximately $30 million when the
consolidation is completed in mid-2015."


Mr. Martin concluded, "We firmly believe this decision was essential to optimize
the CCL Container supply chain footprint and cost position to best service our
important Home & Personal Care customers, all of which are now located in the
United States and Mexico."


CCL Industries employs approximately 9,700 people and operates 88 production
facilities in 25 countries on five continents with corporate offices in Toronto,
Canada, and Framingham, Massachusetts. CCL Label is the world's largest
converter of pressure sensitive and extruded film materials for a wide range of
decorative, instructional and functional applications for large global customers
in the consumer packaging, healthcare, automotive and consumer durables markets.
Extruded plastic tubes, folded instructional leaflets, precision printed & die
cut metal components with LED displays and other complementary products and
services are sold in parallel to specific end use markets. Avery is the world's
largest supplier of labels, specialty converted media and software solutions to
enable short run digital printing in businesses and homes alongside
complementary office products sold through distributors and mass market
retailers. CCL Container is a leading producer of impact extruded aluminum
aerosol cans and bottles for consumer packaged goods customers in the United
States, Canada and Mexico. 


This press release contains forward-looking information and forward-looking
statements, as defined under applicable securities laws, (hereinafter
collectively referred to as "forward-looking statements") that involve a number
of risks and uncertainties. Forward-looking statements include all statements
that are predictive in nature or depend on future events or conditions.
Forward-looking statements are typically identified by the words "believes,"
"expects," "anticipates," "estimates," "intends," "plans" or similar
expressions. Statements regarding the operations, business, financial condition,
priorities, ongoing objectives, strategies and outlook of the Company, other
than statements of historical fact, are forward-looking statements.
Specifically, this press release contains forward-looking statements regarding
the anticipated completion and success of the acquisition; and the Company's
expectations regarding general business and economic conditions. Forward-looking
statements are not guarantees of future performance. They involve known and
unknown risks and uncertainties relating to future events and conditions
including, but not limited to, the evolving global financial crisis and its
impact on the world economy and capital markets; the impact of competition;
consumer confidence and spending preferences; general economic and geopolitical
conditions; currency exchange rates; interest rates and credit availability;
technological change; changes in government regulations; risks associated with
operating and product hazards; and CCL's ability to attract and retain qualified
employees. Do not unduly rely on forward-looking statements as the Company's
actual results could differ materially from those anticipated in these
forward-looking statements. 

Forward-looking statements are also based on a number of assumptions, which may
prove to be incorrect, including, but not limited to, assumptions about the
following: global economic recovery and higher consumer spending; improved
customer demand for the Company's products; continued historical growth trends,
market growth in specific segments and entering into new segments; the Company's
ability to provide a wide range of products to multinational customers on a
global basis; the benefits of the Company's focused strategies and operational
approach; the achievement of the Company's plans for improved efficiency and
lower costs, including stable aluminum costs; the availability of cash and
credit; fluctuations of currency exchange rates; the Company's continued
relations with its customers; the additional capacity and infrastructure
additions within the Container operation; the costs associated with
restructuring the Container operation; the expected increase in EBITDA and
general business and economic conditions. Should one or more risks materialize
or should any assumptions prove incorrect, then actual results could vary
materially from those expressed or implied in the forward-looking statements.
Further details on key risks can be found in the MD&A section of CCL's 2012
Annual Report, particularly under Section 4: "Risks and Uncertainties." CCL's
annual and quarterly reports can be found online at www.cclind.com and
www.sedar.com or are available upon request. Except as otherwise indicated,
forward-looking statements do not take into account the effect that transactions
or non-recurring or other special items announced or occurring after the
statements are made may have on CCL's business. Such statements do not, unless
otherwise specified by the Company, reflect the impact of dispositions, sales of
assets, monetizations, mergers, acquisitions, other business combinations or
transactions, asset write-downs or other charges announced or occurring after
forward-looking statements are made. The financial impact of these transactions
and non-recurring and other special items can be complex and depends on the
facts particular to each of them and therefore cannot be described in a
meaningful way in advance of knowing specific facts. The forward-looking
statements are provided as of the date of this press release and the Company
does not assume any obligation to update or revise the forward-looking
statements to reflect new events or circumstances, except as required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CCL Industries Inc.
Sean Washchuk
Senior Vice President and Chief Financial Officer
416-756-8526


CCL Industries Inc.
Geoffrey T. Martin
President & Chief Executive Officer
508-872-4511
www.cclind.com

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