Intertape Polymer Group (IPG®) Enters US $ 63 million agreement to acquire Cantech® and Increases Borrowing Capacity by US1 $50 million

June 12, 2017
Intertape Polymer Group Inc. (TSX:ITP "), a leading manufacturer of packaging products and machinery, announced on June 12 that it had entered into an agreement to acquire substantially all of the assets of Canadian Technical Tape Ltd. a privately-owned North American supplier of industrial and specialty tapes based in Montreal for an aggregate purchase price of approximately U$63 million, and the concurrent increase in the borrowing limit of IPG's revolving credit facility from U$300 million to U$450 million.