GL&V acquires ADDAX Australia Pty. Ltd. formerly Beloit Australia Pty. Ltd. and creates GL&V Australia Pty. Ltd.

Trois-Rivières, September 19, 2000 — GL&V announces that it has just acquired the assets of ADDAX Australia Pty. Ltd. (Melbourne, Australia), formerly Beloit Australia Pty. Ltd., specializing in equipment sales and after-sales service to the pulp and paper industry in Australia, New Zealand and part of Asia. This division achieves approximately $2 million in annual sales. GL&V seized this complementary acquisition opportunity in order to set up GL&V Australia Pty. Ltd. This new business unit strategically combines the operations of ADDAX Australia Pty. Ltd. and GL&V/Dorr-Oliver Pty. Ltd. (Lidcombe, Sydney), focused mainly on filtration process equipment for the mining industry. The two sales and service units remain active in Melbourne and Sydney respectively.

"This synergistic business combination will enable us to further penetrate the high-potential Asia Pacific region. Our international trademarks such as Beloit, Dorr-Oliver and Celleco already enjoy an excellent reputation in this region, but combining them will raise their profile and favour the development of our niche markets. With the support of our worldwide organization, GL&V Australia Pty. Ltd. will help improve our service to paper manufacturers and mining companies and extend our coverage of this part of the world," indicated Laurent Verreault, President and Chief Executive Officer of GL&V.

Profile
Founded in 1975, GL&V is a world leader in the design and manufacture of engineered proprietary equipment for the pulp and paper industry and other strategic markets, consisting mainly of chemicals, food, mining, minerals, energy and the environment. The Company holds the proprietary rights to most of the machinery used in its customized technological solutions. Its equipment is manufactured primarily in its plants in North America, as well as by various subcontractor partners. GL&V's network extends into more than 40 countries on five continents. The Company has operations and/or sales representatives in Canada, the United States, Europe, Australia, Africa, Asia, and South America, in addition to sales agents in most industrialized regions. GL&V employs close to 1,400 people worldwide.

For information:
Laurent Verreault
Chairman of the Board,
President and Chief Executive Officer
GL&V
Tel: (770) 963-2100

Pierre Lépine
Vice-President, Corporate Development
GL&V
Tel: (514) 284-2224

Provided by: GL&V Pulp and Paper Group