Bemis is to acquire DuPont's Clysar shrink film business, which operates from plants in Clinton, Iowa, and Le Trait, France. Completion of the deal, subject to US Federal approval, is expected in early August. Terms of the agreement have not been disclosed.
Jeffrey Curler, president and ceo of Bemis says: "This acquisition will enrich our existing oriented film capabilities, which include shrink bags, industrial shrink film and heatset polyester and polypropylene. It will also offer our research engineers new opportunities to generate proprietary packaging solutions for our global food and consumer products customers.
"Clysar will become part of the high barrier product line of our flexible packaging segment and is expected to contribute in excess of $100M in sales in 2003."
