Reflexite now part of the ORAFOL Group

30 Aug 2011

ORAFOL and Reflexite Announce Completion of Transaction to Create one of the World's Leading Global Reflective Materials, Graphic Products and Industrial Tapes Groups

Today, ORAFOL Europe GmbH is pleased to announce that the Reflexite Corporation is now part of the ORAFOL Group.

As one of the world's leading suppliers of reflective materials, graphic products and industrial tapes the ORAFOL Group has global presence, a strong brand built through customer engagement and a focus on being "Engineered to Perform Better™''.

Reflexite has built its globally recognized brand with a focus on "Saving Lives and Saving Energy™" as one of the world's leading manufacturers of reflective materials and energy saving optical components and films. As part of the ORAFOL Group, Reflexite will continue to refine and grow its current strategy and will remain an independent entity consolidated into ORAFOL International, Inc., ORAFOL's U.S. holding company.

"The benefits of the partnership are obvious and multi-faceted” said Dr. Michael Foley, CEO of Reflexite. “ORAFOL is a company with a proven willingness to invest in technology and capacity expansion, which will enable Reflexite to continue to grow and expand to its full potential. As a privately-held company, ORAFOL has the same long-term decision perspective that has been a hallmark of Reflexite’s business philosophy and success over the last 40 years.”

Following the completion of the transaction, each of ORAFOL and Reflexite will provide an enhanced offering to their global customer base as a leading supplier of reflective materials, graphic products and industrial tapes.

"We are confident that this transaction has assembled a very focused and highly motivated team. The combined strengths of both companies have positioned the ORAFOL Group to realize a vision based on the highest of standards," said Dr. Holger Loclair, Managing Director of the ORAFOL Europe GmbH and President of the ORAFOL International Inc.

The completion of the transaction was largely made possible by the consent of the employees and directors of Reflexite to the transaction: Reflexite used to be majority owned by its employees and directors, through direct stock ownership and through the company's 25 year old Employee Stock Ownership Plan. “We highly value the support of the employees and directors of Reflexite proving their trust in the excellent cultural and strategic fit, and the long term opportunities for them within the ORAFOL Group,” said Dave Edgar, Reflexite's Vice President of Human Resources.

ORAFOL and Reflexite will share additional information regarding their enhanced performance with their worldwide customers in September.

UBS Investment Bank and Robinson & Cole LLCP acted as financial and legal advisors, respectively, to Reflexite in this transaction.

KPMG and KPMG Law acted as financial, transactional, and legal advisors, respectively, to ORAFOL in this transaction.

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