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BEMIS TO TAKE RESTRUCTURING CHARGE IN THE THIRD QUARTER

 MINNEAPOLIS, Sept. 20 /PRNewswire/ -- Bemis Company, Inc. (NYSE: BMS) announced today that it will take an after tax restructuring charge in the third quarter of $11 to $13 million or 22 cents to 25 cents per share. Management believes this action will have a positive impact on future results by reducing costs and improving the company's competitive position. When completed, it is expected that the restructuring will generate annual cost savings of approximately 10 cents per share.
 The restructuring includes the closedown of the company's nylon resin production facility, the redeployment of assets in its packaging machinery business, and selected other actions to improve efficiency throughout the company.
 John H. Roe, president and CEO said, "While it is not easy to take this charge, we feel it is important for the company to address these issues directly so that we can focus more effectively on growing the business in the future."
 Bemis Company is a major supplier of flexible packaging and pressure-sensitive materials. Bemis common stock is traded on the New York Stock Exchange.
 -0- 9/20/93
 /CONTACT: Lisa D. Locken, director of corporate communications, 612-376-3030; or Benjamin R. Field, chief financial officer, 612-376-3003, both of Bemis Company/
 (BMS)


CO: Bemis Company, Inc. ST: Minnesota IN: SU: ERP

DB-DS -- MN016 -- 3828 09/20/93 16:31 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
Words:218
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