Mar. 28, 2003
Contact: John Baumann, President/CEO
Ampac Packaging, LLC
513.671.1777

Ampac Acquires Innovation Packaging

Ampac, the nation's largest provider of factory direct currency and security bags, has completed an acquisition of Innovation Packaging (also known as Innopac).

"The Innovation team brings us even broader experience in the security products market," said John Baumann, Ampac President & CEO. "We've gained experienced professionals in the field and complementary products to our own."

Margarete Hachigian, Innovation Packaging Corporation's President, who will remain with the organization, echoes Baumann's statement. "It's strength added to strength. We're pleased to be part of the Ampac family.

According to Scott Cathy, General Manager of Ampac's Security Bag division both Ampac and Innovation Packaging customers will benefit from the acquisition. "Our Ampac customers will see a new field sales capability. The addition of Bill Moore and Greg Trass gives us an expanded level of service and an ability to strengthen relationships. And Innovation customers will benefit from a broader line of currency and security product offerings."

Ampac, headquartered in Cincinnati, Ohio, is a global manufacturer of paper and plastic packaging. Ampac provides currency control products and services to the retail, banking, grocery, restaurant, convenience store, and gaming industries.