Bemis Company’s latest report to investors indicates an upbeat outlook and a plan for growth, but market analysts are projecting tough times for the packaging supplier and giving its stock a “sell” rating.
Who made it into August's industry movers gallery with job news in the processing and packaging arena? Bemis, Michelman, TriMas Corporation, Schneider Packaging Equipment Co., Toray Plastics and SGS all feature in the gallery.
Flexible packaging firm Bemis has reported a big double-digit increase in sales in 2010 following the acquisition of Alcan Food Americas. But shares in the company dipped 3 per cent in trading as the fourth quarter figures missed analyst expectations.
A trade union representing Bemis workers has questioned the viability of its proposed acquisition of Alcan Food Packaging Americas claiming the deal would leave the company with an excessive debt burden.
Packaging giant Bemis has announced a continuation of its
restructuring strategy following mixed third quarter results. It
seems likely that the move, designed to improve manufacturing
output, will lead to further job cuts. "We...
Bemis, the US-based packaging provider, has announced the
completion of the previously announced transaction to sell its
Pressure Sensitive Materials Business segment to UPM-Kymmene will
be delayed until the first half of 2003.
