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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report - July 7, 2000
(Date of earliest event reported)
BEMIS COMPANY, INC.
(Exact name of Registrant as specified in its charter)
Commission File Number 1-5277
Missouri 43-0178130
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
222 South 9th Street, Suite 2300, Minneapolis, Minnesota 55402-4099
(Address of principal executive offices)
Registrant's telephone number, including area code: (612) 376-3000
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ITEM 5 - OTHER EVENTS
BEMIS TO ACQUIRE SPECIALTY PLASTIC FILMS BUSINESS FROM VISKASE COMPANIES, INC.
On July 7, 2000, Bemis Company, Inc. announced that it has signed a
definitive agreement to acquire the specialty plastic films business of Viskase
Companies, Inc., which supplies a variety of shrinkable barrier bags, films, and
cook-in-bags to fresh beef, pork, and poultry processors. It had net sales of
approximately $150 million in 1999.
The transaction will be an asset purchase in which Bemis will pay
approximately $228 million in cash for the business. The Company expects to
finance this transaction initially with commercial paper backed up by a
short-term bank commitment and then later this year replace this financing with
a public debt offering. Excluded from the assets being acquired are $17 million
in accounts receivable which will remain with the seller. The acquisition is
expected to be moderately dilutive to reported earnings per share in the first
full year and accretive after that.
The transaction is subject to customary conditions, including the
receipt of governmental and third party consents, and is expected to close in
August 2000.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
C. Exhibits
99. Press Release dated July 7, 2000.
SIGNATURES
Pursuant to the requirements of Section 13 of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
BEMIS COMPANY, INC.
By /s/ Benjamin R. Field, III By /s/ Gene C. Wulf
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Benjamin R. Field, III, Senior Vice Gene C. Wulf, Vice President
President, Chief Financial Officer and Controller
and Treasurer
Date July 19, 2000 Date July 19, 2000
