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Clopay Acquires Remaining Shares of Clopay do Brasil

October 20, 2005

Clopay Plastic Products Company has strengthened its Latin American business with the purchase of the remaining minority share of Clopay do Brasil from the Beda family. Established in 2001 and based in São Paulo, Clopay do Brasil is a leading Brazilian manufacturer of plastic specialty films serving the hygiene market. Clopay also announced the  appointment of Walfner Leitão as managing director of Clopay do Brasil. Mr. Leitão will succeed company founder and current president Alberto Beda. Mr. Beda will sell the remaining shares of Clopay do Brasil and retire from the company to devote his time in a new role as managing director and part-owner of a new company that will engage in the manufacture of nonwoven materials serving the regional hygiene market. Mr. Leitão joined Clopay in May 2005 as commercial director. He has held a variety of senior management positions with multi-national companies such as Husky and, most recently, Tetrapak where he was division director, processing systems for Latin America.

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