Fonterra offers asset investment system (e-Capex) to other manufacturers
Fonterra
The divestment of the businesses – including facilities at Menasha, Wisconsin, and Catoosa Tulsa, Oklahoma – were carried out in accordance with the terms laid down by US competition authorities as part of Bemis’ acquisition of Alcan Packaging Food Americas.
The off-loaded firms posted around $156m in sales in 2009 and manufacture flexible packaging for retail natural cheese and shrink bags for fresh red meat.
Bemis said it intended to use the cash to reduce its debt.