Bemis buys South American packaging business - The Business Journal of Milwaukee:

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Bemis is buying, from Finland-based , the common stock of Huhtamakk Plasticos Rigidos Brasil Ltda and HuhtamakiArgentina SA. The purchasr price was paid with a combinationmof $32.3 million in cash, $1.9 milliohn of debt assumed, and an $8.8 million note payablew to the seller due May 31, 2010. The rigid packaging business includes three facilitiexs in Brazil and one facility in It recorded annual net saleein U.S. dollars of approximatelyt $85.8 million in 2008, primarily to dairg and food service markets. "This acquisition supports growth strategy to expand in Soutbh American markets that fit our strengthsand capabilities," said Henry Theisen, president and CEO of Bemis.
"Huhtamaki'sx rigid packaging operations are well-managed, state-of-the art This business will complement our existing SoutAmerican operations. We expect this acquisition to be modestlyg accretive to earnings per sharein 2009." Bemis BMS) is a major supplier of flexible packaging and pressure sensitive materials used by consumer products, manufacturing, and otheer companies worldwide. Bemis had 2008 net salez of $3.8 billion and employs about 15,200 workeras in 57 plants in 11 countries.