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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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