Bemis realigns segment reporting for packaging divisions

10 January 2013 (Last Updated January 10th, 2013 18:30)

Bemis has disclosed that the company has realigned its segment reporting, and will announce business information for three reportable segments.

Bemis has disclosed that the company has realigned its segment reporting, and will announce business information for three reportable segments.

According to the US-based company, the segments include the US Packaging, Global Packaging and Pressure Sensitive Materials.

The expansion, which will be done from two to three reportable segments, reflects the separation of the Flexible Packaging business segment into US Packaging and Global Packaging business segments.

The packaging and pressure sensitive materials supplier said the Pressure Sensitive Materials business segment will remain unchanged.

All food, consumer, and industrial products packaging-related manufacturing operations located in the US will be represented under the US Packaging segment.

The Global Packaging business division will represent all of the company's manufacturing operations that are related to packaging which are located outside of the US, as well as its global medical device and pharmaceutical packaging manufacturing operations.

The amendments made to the business segments will have no effect on the historical consolidated results of operations, and prior period segment results have been conformed to the new business segment presentation.

Bemis, which reported net sales of $5.3bn in 2011, supplies packaging and pressure sensitive materials used by food, consumer products, healthcare and other companies, worldwide.

The company's packaging business has a technical base in polymer chemistry, film extrusion, coating and laminating, printing and converting.