Paxar Corporation today announced it has purchased NTP Gandrudbakken AS, a manufacturer of heat transfer labels.

NTP, which is located in Norway, had approximately $5 million in sales in 2001.

Paul J Griswold, Paxar's president and chief executive officer, stated: "The acquisition of NTP provides an important technology platform that extends our solutions offering to our retail and brand apparel customers and enhances our relationships with customers throughout Europe and around the world. Our customers find that transfers are a unique way to differentiate their products in a highly competitive marketplace."

Griswold added: "Acquisitions remain a key element in our growth strategy. As we focus on expanding our geographic reach or increasing our technological capabilities, this transaction accomplishes both objectives."