Bemis Company, a Wisconsin based food and beverage packager, is reportedly set to expand. The U.S. corporation will allegedly purchase parts of Rio Tinto's packaging business for $1.2 billion in cash and stocks.According to The Wall Street Journal, the purchase will expand Bemis' packaging business with "23 operations spread across the U.S., Canada, Mexico, South America, and New Zealand...The deal should push its sales from $3.8 billion to $5.3 billion annually."
Bemis' CFO is quoted as saying the following about the company being affected by the economy: "People continue to eat so we aren't as impacted by the economy as the housing industry or auto industry."
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