History

A Family Business Gets Underway Paxar Corporation has a long, rich history of growth, innovation and timely response to industry trends. While the company has divisions dating back as far as the late 1800's, the central Paxar story begins in 1918 with the launch of Meyer Tag and Label Company in New York City. Paxar’s founder, Leon Hershaft, a young immigrant from Europe worked at Meyer Tag and Label as a pressman. The company grew to become a well-respected business, and Leon was appointed General Manager. His brother Fred also joined the company and in the 1940s, the two brothers bought the company. Other family members joined the business, including Arthur Hershaft, Leon's eldest son who served as Paxar’s Chairman of the Board from 1986 to December 2006. During the 1960’s, as more and more retailers began to adopt self-service product packaging, Paxar began a secondary, carded visual packaging business in response. In 1969, it changed its name to Packaging Systems Corporation and became a publicly held company. Innovation Leads to Growth The manufacture of apparel tags and labels continued to prosper. This was in part driven by changes in textile legislation, which required clothing to be labeled with fiber content and care instructions. The opportunities for further growth were evident, and the company began working on a revolutionary, high-speed printing technique that would help label manufacturers effectively comply. In 1971, Paxar introduced its first patented printing system called Fasco™, which increased label printing output dramatically. Importantly, this new technology positioned the company to become the dominant printed label supplier to apparel manufacturers in the United States. As other countries passed similar labeling laws, Paxar’s Fasco technology was licensed to printing companies in Europe, Asia and Africa. Not long after, the company engineered a hot stamp printing system incorporating the new technology. This breakthrough promised even greater efficiencies for apparel manufacturers, who would benefit from printing labels as needed in their own facilities. Acquisitions Expand Product Breadth and Global Reach In 1987, an important strategic decision was made to alter the company’s business course. The carded visual packaging division was sold and resources were reallocated to growing the company’s tag and label business. At this time also, the company’s name was changed to Paxar Corporation. Following this important milestone, Paxar opened its first European operations in England, Germany and Italy and an era of rapid growth ensued worldwide as the company sought to position itself as the vendor of choice for apparel companies and retailers. Over the next 17 years, businesses were acquired and companies established in Asia, Europe, the Middle East and Africa, Latin America and North America. Paxar’s product and service offering also expanded to include woven labels, bar code products, graphic tags, soft apparel labeling, including transfers, and more. New electronic printing systems were engineered such as the high-performance Monarch® series of bar code printers and a ground breaking apparel labeling system called LOKPRINT™. Just-in-time delivery options were enhanced; on-line services were introduced; and niche-retail labeling opportunities explored in areas as diverse as security labeling and food safety management. Adding Value for Its Customers Today, the company delivers a broad range of products and services. For example, its comprehensive offering of printers, software and supplies places Paxar at the forefront of helping customers utilize RFID technology. Simultaneously, the company is dedicated to helping its customers develop viable, distinctive brands through the design and manufacture of a full complement of merchandising products. While its footprint has grown considerably, Paxar’s reason for being in business remains the same. This 88-year old company with revenues of $809 million in 2005 remains focused on fully servicing its customers wherever in the world they may be.