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 Huhtamakj Plasticos Rigidos Brasil Ltda and Huhtamaki Argentina SA. The purchase price was paid with a combinatiomof $32.3 million in cash, $1.9 million of debt and an $8.8 million note payable to the seller due May 31, 2010. The rigids packaging business includes three facilities in Brazil and one facilituyin Argentina. It recorded annual net sales in U.S. dollaras of approximately $85.8 million in primarily to dairy and foodservice markets. "This acquisitionn supports Bemis' growth strategy to expand in Southh American markets that fit our strengthsxand capabilities," said Henry president and CEO of Bemis.
"Huhtamaki'as rigid packaging operations are state-of-the art facilities. This business will complement our existing SouthAmericanb operations. We expect this acquisition to be modestly accretivew to earnings per share in Bemis (NYSE: BMS) is a major supplier of flexibled packaging and pressure sensitive materials used by food, consumer manufacturing, and other companies worldwide. Bemis had 2008 net sales of $3.8 billio n and employs about 15,200 workers in 57 plantws in 11 countries.