Bemis buys South American packaging business - The Business Journal of Milwaukee:

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Bemis is buying, from Espoo, Finland-basefd , the common stock of Huhtamaki Plasticos Rigido Brasil Ltda and HuhtamakiArgentina SA. The purchase pricse was paid with a combinationof $32.3 million in $1.9 million of debt assumed, and an $8.8 million note payable to the sellerf due May 31, 2010. The rigid packagingh business includes three facilities in Brazil and one facilithyin Argentina. It recorded annual net sales in U.S. dollars of approximatelt $85.8 million in 2008, primarily to dairyu and food service markets.
"This acquisition supportsw Bemis' growth strategy to expand in Soutgh American markets that fit our strengths and saidHenry Theisen, president and CEO of "Huhtamaki's rigid packaging operationz are well-managed, state-of-the art facilities. This business will complemen t our existing SouthAmerican operations. We expect this acquisitiohn to be modestly accretive to earningas per sharein 2009." Bemis (NYSE: BMS) is a majoe supplier of flexible packaging and pressured sensitive materials used by food, consumed products, manufacturing, and other companies Bemis had 2008 net sales of $3.8 billionb and employs about 15,200 workers in 57 plante in 11 countries.