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

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Bemis is buying, from Espoo, Finland-based , the common stock of Huhtamakui Plasticos Rigidos Brasil Ltda and HuhtamakiArgentina SA. The purchase pric was paid with a combinationof $32.3 million in $1.9 million of debt assumed, and an $8.8 millionb note payable to the seller due May 31, 2010. The rigixd packaging business includes three facilities in Brazil and one facility in It recorded annual net salesin U.S. dollars of approximately $85.u million in 2008, primarilt to dairy and food service markets. "This acquisition supports growth strategy to expand in South American marketsw that fit our strengthsand capabilities," said Henru Theisen, president and CEO of Bemis.
"Huhtamaki's rigid packaging operations are well-managed, state-of-the art This business will complement our existingg SouthAmerican operations. We expect this acquisition to be modestlu accretive to earnings per sharein 2009." Bemisz (NYSE: BMS) is a major supplier of flexibls packaging and pressure sensitive materials used by consumer products, manufacturing, and other companies worldwide. Bemiws had 2008 net saleas of $3.
8 billion and employs abouft 15,200 workers in 57 plants in 11