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Bemis acquires Alcan Packaging Food Americas

Bemis Company, Inc. has announced that it has signed a definitive agreement to acquire the Food Americas operations of Alcan Packaging, a business unit of international mining group Rio Tinto plc, for $1.2 billion.
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Bemis will acquire 23 Food Americas flexible packaging facilities in
the U.S., Canada, Mexico, Brazil, Argentina, and New Zealand. The
transaction is expected to close by the end of 2009, subject to
customary closing conditions and regulatory review.

“We are very pleased to add Alcan Packaging’s Food Americas business
to the Bemis organization,” said Henry Theisen, Bemis President and
Chief Executive Officer. “Both Bemis and Alcan Packaging have strong,
collaborative relationships with renowned food and consumer products
customers. We each have a long history of dedication to outstanding
quality and manufacturing excellence. In pooling our resources, we
will diversify our existing technologies and product lines which will
broaden our product offering and augment our technical capabilities.
This acquisition provides value from all angles and is a prudent
investment in Bemis’ future.”

Theisen added, “Alcan Packaging Food Americas has demonstrated a
commitment to investing in their operations and their workforce. The
two companies clearly complement each other, and I’m looking forward to
the exciting future this combination will bring.”

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