UFP Technologies Acquires Selected Assets of Advanced Materials Group

• Press Release
• Source: UFP Technologies, Inc.
• On 9:48 am EDT, Thursday September 3, 2009

GEORGETOWN, Mass.--(BUSINESS WIRE)--UFP Technologies, Inc. (Nasdaq: UFPT - News), a manufacturer of packaging and component products, today announced that it has purchased certain assets of Advanced Materials Group (“AMI”) in Rancho Dominguez, California. AMI, a foam fabricator serving the medical market, filed for relief under Chapter 11 of the United States Bankruptcy Code on July 2, 2009. UFP’s purchase of selected assets of AMI was approved by the Bankruptcy Court on September 2, 2009.

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"We are very pleased with this transaction,” said R. Jeffrey Bailly, Chairman & CEO of UFP Technologies. “With its ISO 13485 Quality Certification, FDA certification, and clean room capabilities, AMI’s facility is ideally suited to meeting the needs of our medical customers. It also strengthens our position on the west coast; with the Rancho Dominguez plant just 85 miles from our Ventura facility, we will also have the option to increase efficiencies by combining these two California operations.”

“Following our acquisition of selected assets of Foamade Industries and E.N. Murray Company, AMI is our third transaction this year,” Bailly continued, “demonstrating the exciting acquisition growth opportunities that exist for UFP Technologies.”

UFP Technologies is a leading designer and manufacturer of interior protective packaging solutions using molded fiber, vacuum-formed plastics, and molded and fabricated foam plastics. The Company also designs and manufactures engineered component solutions using laminating, molding, and fabricating technologies. The Company primarily serves the automotive, computers and electronics, medical, aerospace and defense, consumer, and industrial markets.

This news release contains forward-looking information that involves risks and uncertainties, including statements about the Company’s prospects, anticipated advantages the Company expects to realize from its acquisition and integration of the AMI assets, the Company’s manufacturing capabilities, product offerings and growth potential, and the Company’s sales opportunities. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation risks associated with the identification of suitable acquisition candidates and the successful, efficient execution and integration of such acquisitions, including without limitation the acquisition of the AMI assets, as well as other risks and uncertainties that are detailed in the documents filed by the Company with the SEC. Accordingly, actual results may differ materially. Readers are referred to the documents filed by the Company with the SEC, specifically the last reports on Forms 10-K and 10-Q. The forward-looking statements contained herein speak only of the Company’s expectations as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.

UFP Technologies, Inc.
Ron Lataille, 978-352-2200
www.ufpt.com