Bemis Provides Update on Status of Pending Alcan Packaging Food Americas Acquisition
NEENAH, Wis.—Dec 29, 2009—Bemis Co., Inc. (NYSE: BMS), today announced that it is involved in discussions with the staff of the Department of Justice regarding their review, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, of Bemis' pending acquisition of the Food Americas operations of Alcan Packaging, a business unit of international mining group Rio Tinto plc (LON: RIO; ASX: RIO). These discussions include remedies which management believes would resolve the concerns expressed by the Department of Justice about the transaction.
Bemis previously indicated that it had anticipated receiving regulatory approval of the transaction by the end of 2009. While discussions are progressing, management no longer anticipates that approval will be received by December 31, 2009. It is now management's expectation that regulatory approval will be received in early 2010.
About Bemis Co., Inc.
Bemis Co. is a major supplier of flexible packaging and pressure sensitive materials used by leading food, consumer products, manufacturing, and other companies worldwide. Founded in 1858, the Company reported 2008 net sales of $3.8 billion. The Company's flexible packaging business has a strong technical base in polymer chemistry, film extrusion, coating and laminating, printing, and converting. Headquartered in Neenah, Wisconsin, Bemis employs over 15,800 individuals in 61 manufacturing facilities in 11 countries around the world. More information about the Company is available at our website, www.bemis.com.