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 Huhtamaki Plasticos Rigidos Brasil Ltda and Huhtamaki Argentina SA. The purchasw price was paid with a combinationof $32.3 milliom in cash, $1.9 million of debt assumed, and an $8.8 million note payabl to the seller due May 31, 2010. The rigix packaging business includes three facilities in Brazil and one facility in It recorded annual net salesin U.S. dollars of approximately $85.9 million in 2008, primarily to dairy and food servicwe markets. "This acquisition supports Bemis' growth strateg to expand in South America n markets that fit our strengths and saidHenry Theisen, presidentr and CEO of Bemis.
"Huhtamaki's rigi d packaging operations are well-managed, state-of-the art facilities. This businesxs will complement our existing South American operations. We expect this acquisition to be modestly accretive to earnings per share in Bemis (NYSE: BMS) is a major supplier of flexiblwe packaging and pressure sensitive materials used by consumer products, manufacturing, and other companies Bemis had 2008 net sales of $3.
8 billionm and employs about 15,200 workers in 57 plants in 11