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Bemis anticipates closing sale of Pressure Sensitive Materials Business

Published on 2003-01-03. Author : SpecialChem

 

Bemis Co. Inc. announced that completion of the previously announced transaction to sell its Pressure Sensitive Materials Business segment to UPM-Kymmene will be delayed until 2003 to accommodate the ongoing review of information by the U.S. regulatory authorities.

Bemis anticipates completing the transaction during the first half of 2003. The closing would occur within approximately 30 days of receiving U.S. regulatory approval. Bemis announced the agreement to sell the Pressure Sensitive Materials Business to UPM-Kymmene on Aug. 21, 2002. The transaction was approved by the European regulatory authorities on Oct. 16, 2002.


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