Avery to reduce debt by at $350 mn by end of 2010

August 01, 2009 - United States Of America

Avery Dennison Corporation announced that it is targeting to reduce debt by at least $350 million by the end of 2010. This announcement supplements information provided earlier by the Company related to the decision to reduce its dividend.

Avery Dennison is a recognized industry leader that develops innovative identification and decorative solutions for businesses and consumers worldwide.

The Company’s products include pressure-sensitive labeling materials; graphics imaging media; retail apparel ticketing and branding systems; RFID inlays and tags; office products; specialty tapes; and a variety of specialized labels for automotive, industrial and durable goods applications.

A FORTUNE 500 Company with sales of $6.7 billion in 2008, Avery Dennison is based in Pasadena, California and has more than 32,000 employees in over 60 countries.