Bemis and UPM-Kymmene: Swap of businesses

Flexible packaging giant Bemis Co. has agreed to sell its global pressure-sensitive materials business, known as MACtac, to Finland’s UPM-Kymmene for US$420 million. In a separate transaction, Bemis will acquire the Walki Films division of UPM-Kymmene, a Helsinki-based paper products supplier, for US$70 million. The sales are expected to be finalized by year’s end. Acquisition of Walki Films, which makes high-barrier vacuum and modified-atmosphere packaging for meat, cheese, and other fresh foods, will more than double the level of Bemis’ flexible packaging sales in Europe, Bemis says. Walki’s reported annual sales are now about US$120 million. The division has two manufacturing plants, located in Valkeakoski, Finland and Epernon, France, which Bemis says it will continue to operate.
Bemis has recently been moving to bolster the size and scope of its flexible packaging operations. Earlier this year the company purchased DuPont’s Clysar shrink-film business for $142 million. Last year, Bemis acquired Duralam Inc., an Appleton, WI, manufacturer of barrier films for food packaging, for a reported $69 million.

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