Neenah-based Bemis Company Inc. announced that it has acquired all of the common stock of Foshan New Changsheng Plastics Films Co. LTD (NCS), a specialty film manufacturer located in Foshan, China.
"The NCS acquisition represents an important step in our growth strategy by establishing a Bemis film platform for the Asia-Pacific region," said Henry Theisen, president and chief executive officer of Bemis Company. "NCS has strong customer relationships and expertise in specialty film manufacturing for food packaging, personal care packaging, consumer electronics and specialty applications. Their newly expanded manufacturing facilities will also be capable of manufacturing film for sensitive medical device and pharmaceutical applications. With this new specialty film platform, we are well-positioned to increase our market position in the Asia-Pacific region."
Financial details of the transaction were not disclosed. The transaction is not expected to impact Bemis' earnings per share guidance for 2013.
Bemis is a major supplier of packaging and pressure sensitive materials used by leading food, consumer products, health care and other companies worldwide.