Posted in | Packaging

Sale of Bemis' Pressure Sensitive Materials Business Blocked

Bemis have been informed that the US Department of Justice will be filing a civil antitrust lawsuit to block the sale to block the sale of their pressure sensitive materials business to a subsidiary of UPM-Kymmene. The deal was originally announced on August 21, 2002 and was going to cost UPM-Kymmene US$420 million.

The Department of Justice is also about to start an investigation into the competitive practices of the label stock industry. Bemis expect to receive a subpoena in this regard, but do not know of any allegations against them. Consequently they will continue to co-operate with the Department of Justice in the matter.

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