Arthur Hershaft, chairman and CEO of Paxar, says, "Alkahn is a company that has a long history and a great reputation as a leader in the woven label business. This acquisition, which will afford many synergies and cost reduction opportunities, is strategically significant in that it will provide us with an exceptionally strong platform to grow our woven label business. Woven labels are a critical part of Paxar’s product offering because they support the brand image for many of our customers."
Max Kahn, chairman and CEO of Alkahn, commented, "As we evaluated our options, we realised that Alkahn would fit best as part of the Paxar organization because we share the same customer-oriented, entrepreneurial culture. I am pleased that Philip and his management team will play a significant role in managing Paxar-Alkahn’s U.S. woven label business."