BCT International, Inc. Announces Its Response ToProposal Announced By Steven Bronson. | Business News and Press Releases from AllBusiness.com
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FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov. 10, 2000

BCT International, Inc. (Nasdaq:BCTI), which through its paper products division and franchises operates the world's largest wholesale printing chain, today announced that its Board of Directors has decided not to support the proposal, announced by Steven N. Bronson, a shareholder of the Company, on October 24, 2000, for a going private transaction or tender offer to acquire all of the Company's outstanding stock at a price of $2.50 per share. The Board determined that the proposal was not in the best interest of shareholders because the price offered was substantially below fair value.

"The Board is optimistic about the Company's future prospects for many reasons. The Company has made significant investments in its Internet initiatives, as well as new programs it expects to implement next year. The Company believes that these investments will substantially enhance its future revenue and earnings," stated Peter Gaughn, President and CEO.

BCT International, Inc. is a holding company which, through its paper products division and its Business Cards Tomorrow franchises, operates the world's largest wholesale printing chain. The Company is headquartered in Ft. Lauderdale, Florida and its common stock trades on Nasdaq under the symbol "BCTI".

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, product prices and raw material costs, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

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