European expansion

International Greetings PLC 15 March 2005 15 March 2005 International Greetings plc Further European expansion International Greetings plc ('International Greetings' or 'the Group') (AIM: IGR), the leading designer and manufacturer of private label greetings products, wrapping paper and film and television character based licensed stationery announces today that it has strengthened its position in Europe with the purchase of a new 400,000 sq ft storage, manufacturing and distribution facility for its Dutch subsidiary Hoomark. Hoomark, which was acquired by the Company in November 2003 and produces gift wrap for the European market, will transfer its existing production and storage facilities into the new site. The move will allow International Greetings to continue its expansion into mainland Europe and provide it with a transition point to further develop sales into Eastern Europe. The new facility is based in Hoogeveen in Holland, which is ideally situated for distribution throughout Europe. Commenting, Nick Fisher, joint chief executive of International Greetings said: 'We have seen strong progress from Hoomark since we acquired it at the end of 2003, but it can no longer continue to grow at its current location. The new site is excellently situated in terms of providing access to mainland and Eastern Europe and is large enough to accommodate both Hoomark's and the Group's future expansion plans. We believe Europe represents an exciting opportunity for International Greetings and see this move as a significant step forward in achieving our ambitions there.' For further information: Nick Fisher, International Greetings plc: 01707 630630 Richard Sunderland, Tavistock Communications: 020 7920 3150 About International Greetings: International Greetings plc is a leading designer and manufacturer of private label wrapping paper, greetings products and film and television character based licensed stationery. It currently has over 1,000 employees and produces gift wrapping paper, gift tags, ribbons, Christmas crackers, greeting cards and other decorative accessories. The Group provides wrapping paper and gift products to most of the major high-street retailers and holds the licenses to produce merchandise for most of the well-known family blockbusters which have been released this year, including: Harry Potter and the Prisoner of Azkaban, Shrek 2, Thunderbirds and The Incredibles. The Group is based in the UK and, in November 2003, strengthened its position in Europe through the acquisition of Hoomark, the Dutch based designer and manufacturer of gift wrapping paper. The Group also has successful operations in the United States, Hong Kong and, as part of its continued worldwide expansion, has recently opened facilities in China and Latvia. International Greetings was established in 1979. It listed on AIM in 1995 and is currently capitalised at about £166 million. Further information is available at www.internationalgreetings.co.uk This information is provided by RNS The company news service from the London Stock Exchange
UK 100

Latest directors dealings