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Bemis Buys Rio Tinto Packager (Update)

Stock quotes in this article: BMS , RTP  

Updated with stock information.

Bemis(BMS Quote), a food and beverage packager, plans to acquire the Food Americas operations of Alcan Packaging, a unit of Rio Tinto(RTP Quote), for $1.2 billion.

Following the announcement, Bemis shares were up 4.8% this morning. Rio Tinto ADSs were down 7.5% after the open.

Bemis will buy 23 flexible packaging plants in the U.S., Canada, Mexico, Brazil, Argentina and New Zealand. Alcan Packing Food Americas had $1.5 billion sales in 2008. ...

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