|ACCO Brands To Expand Manufacturing And Distribution Facility In Booneville, Mississippi|
|LINCOLNSHIRE, IL and BOONEVILLE, MS – August 2, 2006 – ACCO Brands Corporation (NYSE: ABD), a world leader in branded office products, announced today that it will expand the company's Booneville, Mississippi manufacturing and distribution facility, creating an additional 330 jobs and enabling the company to more efficiently manufacture certain products and serve its customers. When the expansion is completed in 2008, the facility will become a key distribution center in the southeast, and the company's principal manufacturing site in North America for presentation boards sold under the Quartet® brand. The company will also manufacture vinyl binders at the site.|
"This is a significant expansion of a strategically important manufacturing and distribution facility," said Dennis L. Chandler, president and chief operating officer of ACCO Brands' Office Products Group. "We will create a state-of-the-art distribution center and a much-needed presence for distribution in the southeast region of the country. In addition, we'll benefit from a lower-cost operation, reduced shipping costs and greater proximity to our customers."
The $55 million project includes three new buildings totaling 570,000 square feet, and major renovations to existing buildings to improve productivity. Several buildings that no longer meet the company's needs will be demolished. When the project is complete, ACCO Brands will occupy 748,000 square feet in total.
ACCO Brands currently employs more than 500 people in Booneville. Following the expansion, the facility will employ about 850 people in distribution, manufacturing and customer service functions. Two manufacturing facilities in Illinois and Mexico will close, and some manufacturing from these facilities will be relocated to Booneville.
"On behalf of the people of Mississippi, I'd like to congratulate ACCO Brands Corporation for its decision to significantly expand its Booneville, Mississippi facility," said Mississippi Governor Haley Barbour. "The state's ability to attract and retain prominent businesses such as ACCO Brands is a testament to Mississippi's workforce, quality of life and strategic location in the southeast."
About ACCO Brands Corporation
ACCO Brands Corporation (NYSE: ABD) is a world leader in select categories of branded office products, with annual revenues of nearly $2 billion. Its industry-leading brands include Day-Timer®, Swingline®, Kensington®, Quartet®, GBC®, Rexel®, and Wilson Jones®, among others. Under the GBC brand, the company is also a leader in the professional print finishing market.
This press release contains statements which may constitute "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to certain risks and uncertainties, are made as of the date hereof and the company assumes no obligation to update them. ACCO Brands' ability to predict results or the actual effect of future plans or strategies is inherently uncertain and actual results may differ from those predicted depending on a variety of factors, including but not limited to fluctuations in cost and availability of raw materials; competition within the markets in which the company operates; the effects of both general and extraordinary economic, political and social conditions; the dependence of the company on certain suppliers of manufactured products; the effect of consolidation in the office products industry; the risk that businesses that have been combined into the company as a result of the merger with General Binding Corporation will not be integrated successfully; the risk that targeted cost savings and synergies from the aforesaid merger and other previous business combinations may not be fully realized or take longer to realize than expected; disruption from business combinations making it more difficult to maintain relationships with the company's customers, employees or suppliers; foreign exchange rate fluctuations; the development, introduction and acceptance of new products; the degree to which higher raw material costs, and freight and distribution costs, can be passed on to customers through selling price increases and the effect on sales volumes as a result thereof; increases in health care, pension and other employee welfare costs; as well as other risks and uncertainties detailed from time to time in the company's SEC filings.