"Given modest expectations for unit volume growth in the short term, they will continue to focus on expense management and they are in the process of evaluating new opportunities for reducing their cost structure," said Scarborough.
"While some of the second quarter spending cuts are not sustainable over the long term, they expect to secure additional sources of cost savings as a result of a number of key initiatives currently underway across the Company."
"The long-term opportunities for growth are excellent. They are confident that improved economic conditions, their leadership position in growing emerging markets, innovations from their Horizons growth program and the expansion of their RFID business will accelerate demand for their products and services in the future," said Scarborough.
California based founded in 1935, Avery Dennison is a global leader in pressure-sensitive labeling materials, office products and retail tag, ticketing and branding systems. Avery Dennison is a FORTUNE 500 company with 2004 sales of $5.3 billion.
Avery Dennison employs more than 21,000 individuals in 47 countries worldwide who apply the Company's technologies to develop, manufacture and market a wide range of products for both consumer and industrial markets.
Products offered by Avery Dennison include Avery-brand officeproducts and graphics imaging media, Fasson-brand self-adhesive materials, peel-and-stick postage stamps, reflective highway safety products, labels for a wide variety of automotive, industrial and durable goods applications, brand identification and supply chain management products for the retail and apparel industries, and specialty tapes and polymers.
Avery Dennison Corporation
marketing@alchempro.com
