- June 20, 2002, PRESS RELEASE
WILMINGTON, DE, USA—DuPont reports it has reached an agreement to sell its global Clysar shrink film business and manufacturing assets to Bemis Company, Inc. According to DuPont, Bemis—the largest flexible packaging company in North America and a major manufacturer of pressure-sensitive materials used for labels—will acquire all elements of the Clysar business, including research and development, sales, marketing, and manufacturing at operations in Clinton, IA, USA, and in LeTrait, France.
DuPont says, by buying the Clysar business, Bemis can build on the strong foundation of the shrink film unit, and it will complement Bemis Company's already prominent position in the flexible packaging market as well as enable Bemis to expand into new, growing shrink film segments. "The existing distribution channel will continue selling and servicing the Clysar product line for Bemis," adds DuPont. Terms and conditions of the deal were not disclosed, and transfer of ownership is expected to take place in August this year.
The Clysar product line consists of high-clarity, tamper-resistant shrink films designed for the display and protective shrink wrapping of compact discs, electronics, paper products, and other consumer goods.