Bemis confirms talks to buy Alcan Packaging
Bemis has confirmed that “confidential efforts are ongoing” in its attempt to acquire Alcan Packaging, which has been up for sale since mining giant Rio Tinto bought its parent company.
The acquisition attempt was confirmed in Bemis’ Q1 results, in which the company revealed it had incurred a $9.1m (€6.9m) charge because of “accounting, legal, and professional fees” associated with due diligence.
Rio Tinto has been trying to sell Alcan Packaging for over a year but has struggled to find a buyer in the economic downturn, despite interest from companies including Amcor.
