EXHIBIT 21
SUBSIDIARIES OF REGISTRANT
JURISDICTION
IN WHICH
ORGANIZED
------------
1. Avery Dennison Corporation (publicly-owned parent of con-
solidated group).......................................... Delaware
2. Avery Corp. .............................................. Delaware
3. Avery Pacific Corporation ................................ California
4. Avery International Holding GmbH.......................... Germany
5. Avery, Inc................................................ California
6. Avery Foreign Sales Corporation B.V....................... Netherlands
7. Avery Coordination Center N.V............................. Belgium
8. Avery International Overseas Finance N.V.................. Netherlands
9. Avery Holding Limited..................................... United Kingdom
10. Cardinal Insurance Limited ............................... Bermuda
11. AEAC, Inc. ............................................... Delaware
12. Avery Dennison Canada Inc................................. Canada
13. Fasson Sverige AB......................................... Sweden
14. Avery Etiketsystemer A/S ................................. Denmark
15. Avery Etiketten B.V....................................... Netherlands
16. Avery International France S.A. .......................... France
17. Avery Etiketten N.V. ..................................... Belgium
18. Avery Dennison U.K. Limited............................... United Kingdom
19. Avery Maschinen GmbH...................................... Germany
20. Avery Dennison (Ireland) Limited ......................... Ireland
21. Retail Products Limited .................................. Ireland
22. Avery Dennison Office Products U.K. Ltd. ................. United Kingdom
23. Avery Guidex Limited ..................................... United Kingdom
24. A.V. Chemie A.G........................................... Switzerland
25. Avery Etikettier-Logistik GmbH............................ Germany
26. Soabar Systems (Hong Kong) Limited........................ Hong Kong
27. Fasson Nederland B.V...................................... Netherlands
28. Avery Holding B.V......................................... Netherlands
29. Fasson Deutschland GmbH................................... Germany
30. Fasson France S.a.r.l..................................... France
31. Fasson Italia S.p.A....................................... Italy
32. Fasson de Mexico S.A...................................... Mexico
33. Fasson Schweiz A.G. ...................................... Switzerland
34. Fasson Scandinavia A/S.................................... Denmark
35. Fasson Products (Proprietary) Limited..................... South Africa
36. Fasson Hemel Hempstead Limited............................ United Kingdom
37. Fasson Norge A/S.......................................... Norway
JURISDICTION
IN WHICH
ORGANIZED
------------
38. Fasson Osterreich GmbH..................................... Austria
39. Fasson Ireland Limited .................................... Ireland
40. Fasson Suomi OY............................................ Finland
41. Fasson Pty. Limited ....................................... Australia
42. Avery Properties Pty. Limited.............................. Australia
43. Fasson Produtos Adesivos Limitada.......................... Brazil
44. Avery Specialty Tape Division N.V.......................... Belgium
45. Fasson Canada Inc.......................................... Canada
46. Fasson U.K. Limited........................................ United Kingdom
47. Fasson Espana S.A.......................................... Spain
48. Avery Automotive Limited................................... United Kingdom
49. Avery Dennison Singapore (Pte) Ltd......................... Singapore
50. Avery Myers Limited........................................ United Kingdom
51. Avery Graphic Systems, Inc. ............................... Delaware
52. Dennison Danmark A/S....................................... Denmark
53. Avery Holding S.A. ........................................ France
54. Avery de Mexico S.A. de C.V................................ Mexico
55. Fasson Luxembourg S.A...................................... Luxembourg
56. Guidex Limited ............................................ United Kingdom
57. Novexx Modul Vertriebs GmbH................................ Germany
58. Avery Etikettsystem Svenska AB ............................ Sweden
59. Fasson Belgie N.V.......................................... Belgium
60. Security Printing Division, Inc............................ Delaware
61. Dennison Manufacturing Company............................. Nevada
62. Avery Dennison (Hong Kong) Limited......................... Hong Kong
63. Avery Dennison Holdings Limited............................ Australia
64. Avery Dennison Australia Limited........................... Australia
65. Avery Dennison (Retail) Limited............................ Australia
66. Dennison Limited........................................... United Kingdom
67. Metallised Films & Papers Ltd. ............................ United Kingdom
68. Dennison International Company............................. Massachusetts
69. Dennison de Mexico S.A. de C.V. ........................... Mexico
70. Dennison do Brasil Industria e Comercio Ltda............... Brazil
71. TIADECO Participacoes Ltda................................. Brazil
72. Indumarco Comercial Ltda................................... Brazil
73. Dennison International Holding B.V......................... Netherlands
74. Avery Korea Limited........................................ Korea
75. Dennison Manufacturing (Trading) Ltd....................... United Kingdom
76. Dennison Monarch Systems, Inc. ............................ Delaware
77. Avery Dennison Office Products Company..................... Nevada
78. Avery Dennison Transoceanic Corporation.................... Massachusetts
79. DMC Development Corporation................................ Nevada
JURISDICTION
IN WHICH
ORGANIZED
------------
80. Avery Dennison France S.A. ................................ France
81. Societe Civile Immobiliere Sarrail......................... France
82. Monarch Industries, Inc.................................... New Jersey
83. Avery Buroprodukte GmbH.................................... Germany
84. National Blank Book Company, Corp. ........................ Massachusetts
85. Dennison Ireland Limited................................... Ireland
86. Avery Label (Northern Ireland) Limited..................... United Kingdom
87. Dennison Office Products Limited........................... Ireland
88. Dennison Magnetic Media Limited............................ Ireland
89. Etikettrykkeriet A/S....................................... Denmark
90. Soabar Systems Hong Kong B.V. ............................. Netherlands
91. Avery Dennison C.A. ....................................... Venezuela
92. Avery Dennison Mexico S.A. de C.V. ........................ Mexico
93. Fasson Portugal Produtos Auto-Adesivos Lda. ............... Portugal
94. Avery Chile S.A. .......................................... Chile
95. Avery China Company Ltd. .................................. China
96. Presto SarL ............................................... France
All of the preceding subsidiaries have been consolidated in the Registrant's
financial statements and no separate financial statements have been filed.
The parent company also owns 50% of Avery-Toppan Company, Limited (Japan),
which company may be deemed to be a subsidiary. Registrant's share of the
losses and profits is included on an equity basis in the Consolidated Statement
of Income.