Bemis Co (BMS) Acquires Alcan Packaging Food Americas Business From Rio Tinto's (RTP) for $1.2B
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Rio Tinto (NYSE: RTP) has signed an agreement to sell its Alcan Packaging Food Americas division to Bemis Company, Inc. (NYSE: BMS) for a total consideration of US$1.2 billion of which US$200 million may be in the form of shares in Bemis Company, Inc. Completion of the transaction remains subject to customary closing conditions, including regulatory approvals.
The Food Americas division, which is headquartered in Chicago, has approximately 4,600 employees at 23 locations in the US, Canada, Mexico, Brazil, Argentina and New Zealand. Alcan Packaging Food Americas generated revenues of US$1.5billion in 2008.
Alcan Packaging is a leading supplier of single and multi-layer, plain and printed high-barrier plastic films, laminations, pouches, bags, lidstock and thermoformed trays for the food, beverage, meat and dairy industries.
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