Bemis is to sell its MACtac pressure sensitive materials business to UPM-Kymmene for $420M. In a separate transaction, Bemis will acquire the Walki Films division of UPM-Kymmene for $70M. Completion of the deals is expected by the end of 2002.
MACtac recorded global net sales of $491M in 2001. The deal includes all elements of Bemis' global pressure sensitive materials business including manufacturing facilities in Columbus, Indiana; Hopkins, Minnesota; Nellis, Nevada; Stow, Ohio; Scranton, Pennsylvania; Soignies, Belgium; and San Luis Potosi, Mexico. UPM-Kymmene, one of the world's leading paper companies, includes pressure sensitive materials subsidiary, Raflatac.
Walki Films is a major European manufacturer of high barrier packaging films for fresh foods. With annual sales of about $120M, it will more than double Bemis' current flexible packaging sales in Europe. The company will continue to operate from its plants in Valkeakoski, Finland, and Epernon, France.
Jeffrey Curler, Bemis president and ceo, comments: "The sale will allow us to focus on our flexible packaging business and pursue the significant growth opportunities we see in those markets."
More information from Melanie Miller, Bemis Company Inc - TEL : +612 376 3030.
