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Hadera Paper Ltd. Subject to Potential Class Action Suit Against Associated Company

May 2, 2011

HADERA, Israel, May 2, 2011 /PRNewswire-FirstCall/ — Hadera Paper Ltd.
(AMEX:AIP) (the “Company” or “Hadera Paper”) announced that a petition was
filed against Hogla-Kimberly LTD (H-K), an associated company (49.9%), for
the approval of a class action. According to the petition, the plaintiff
claimed that Huggies(R) diapers, marketed by H-K, which she purchased, did
not absorb as was expected due to a fault in the diapers production line. The
plaintiff estimates the scope of the class action to be approximately NIS 1.1
billion
. At this early stage, H-K is not able to assess the chances of the
class action and its influences.

    Contact:
    Yael Nevo, Adv.
    Corporate Secretary and Legal Counsel
    Hadera Paper Ltd. Group
    Tel:+972-4-6349408
    YaelN@hadera-paper.co.il

SOURCE Hadera Paper Ltd


Source: newswire



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