Austen commented, "We are focused on improving our business and further positioning ourselves for long-term profitable success. As we begin to implement the first steps of this cost savings plan in 2017, we will also continue our comprehensive review to finalize the remaining cost savings, to outline future capital spending, to explore ways to offset headwinds of the current economic environment in Brazil, and to reshape our go-to-market efforts to align with the evolving U.S. packaged food landscape."Austen continued, "The strong foundational elements of Bemis Company remain unchanged. We are committed to our dividend program and returning free cash flow to our shareholders, to developing opportunities for organic and inorganic growth, and to providing an attractive, long-term investment for our shareholders." FORWARD-LOOKING STATEMENTS This release contains certain estimates, predictions, and other "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Forward-looking statements are generally identified with the words "believe," "expect," "anticipate," "intend," "estimate," "target," "may," "will," "plan," "project," "should," "continue," or the negative thereof or other similar expressions, or discussion of future goals or aspirations, which are predictions of or indicate future events and trends and which do not relate to historical matters. Such statements are based on information available to management as of the time of such statements and relate to, among other things, expectations of the business environment in which we operate, projections of future performance (financial and otherwise), including those of acquired companies, perceived opportunities in the market and statements regarding our strategy and vision. Forward-looking statements involve known and unknown risks, uncertainties, and other factors, which may cause actual results, performance, or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Factors that could cause actual results to differ from those expected include, but are not limited to:
- A failure to realize the full potential of our restructuring activities;
- Our ability to retain and build upon the relationships and sales of our key customers;
- The potential loss of business or increased costs due to customer or vendor consolidation;
- The ability of our foreign operations to maintain working efficiencies, as well as properly adjust to continuing changes in global politics, legislation, and economic conditions;
- Variances in key exchange rates that could affect the translation of the financial statements of our foreign entities;
- Our ability to effectively implement and update our global enterprise resource planning ("ERP") systems;
- Changes in governmental regulations, particularly in the areas of environmental, health and safety matters, fiscal incentives, and foreign investment;
- Changes in the competitive conditions within our markets, as well as changes in the demand for our goods; and
- Changes in our ability to attract and retain high performance employees.