Bemis Company have reached an agreement with UPM-Kymmene to sell them their global pressure sensitive materials business, known as MACtac for the sum of $420 million. In a separate negotiation, Bemis have also agreed to acquire UPM’s Walki Films business for $70 million. Pending customary approvals, both deals, which are mutually exclusive, are expected to be completed during the final quarter of this year.
The acquisition of MACtac by UPM presents an opportunity for them to become part of UPM’s range of converting materials products and to join UPM’s pressure sensitive materials subsidiary Raflatac. It encompasses manufacturing facilities in Indiana, Minnesota, Nevada, Ohio, Pennsylvania, Belgium and Mexico.
Bemis will concentrate on their efforts on the flexible packaging business. The acquisition of Walki Films will become an integral part of this strategy. Walki products will enhance Bemis’ range of packaging solutions, as well as proving an entry point for their North American products into Europe.
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