Bemis Company, Inc. announced its planned actions in a restructuring and cost savings program to improve efficiency and profitability that further positions the Company for long-term success. The Company will implement these initiatives while maintaining the high quality products, best-in-class service, and culture of respect and innovation consistent with Bemis’ standards. “Improving the performance of our U.S. Packaging business is a key priority in creating value for our shareholders," said William F. Austen, Bemis Company's President and Chief Executive Officer. "During April, we began a review to align our U.S. manufacturing and administrative cost structures with the demands of our customer base to better position the Company in the current environment and for its long-term success. Given the challenges in the Brazilian economic environment, we also expanded the scope of our review to include our entire global business. We are targeting a total company cost savings plan of $55 to $60 million as we create a more agile, streamlined, and efficient business that is well-positioned for the long-term.” Click Read More below for additional detail.
WestRock Company (NYSE:WRK), a leading provider of differentiated paper and packaging solutions, today announced that it has entered into an agreement to acquire Schlüter Print Pharma Packaging, a German-based supplier of a full range of leaflets and booklets.
Schlüter will become part of WestRock’s Multi Packaging Solutions business.
“Schlüter has an excellent reputation as a high-quality supplier to customers in the pharmaceutical and automotive industries, and this acquisition will enable us to build our business in these growing markets,” said Marc Shore, president of WestRock’s Multi Packaging Solutions business. “It will also expand our geographical footprint to better serve customers throughout Europe.”
“We are excited about what becoming part of WestRock means for our customers and employees,” said Andreas Schlüter, owner of Schlüter Print Pharma Packaging. “We firmly believe that WestRock is well positioned to grow the business and continue developing solutions that will help our customers address the challenges they face today and in the future.”
The transaction is subject to customary closing conditions.