Bemis completes Alcan buy

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Bemis announced it has completed the US$1.2bn takeover of Alcan Packaging Food Americas after agreeing to divest two of the company’s flexible packing operations.

The firm closed the deal after receiving the go-ahead from the US Department of Justice last week.

Henry Theisen, Bemis president and chief executive officer, said: "During the next two years, we expect to generate strong cash flow which we will use to invest in growth opportunities, pay down debt, and deliver attractive total returns to our shareholders. This acquisition complements our manufacturing capabilities and technological expertise around the world. “

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