Bemis Company 2007 Annual Report - IR Solutions

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HISTORY OF BEMIS (continued) As the United States entered World War II, demand for Bemis products grew, and all Bemis branches banded together to support the war effort, producing millions upon millions of textile and paper bags. Bemis made sandbags that were used to protect gun crews against bomb splinters, to build air-raid shelters, and to protect factories. Sandbags were dyed brown using a formula perfected by Bemis chemists at the St. Louis factory. The Minneapolis branch sewed barrack bags made from tough, waterproof denim. The Paper Bag Specialty Division plant in St. Louis produced waterproof paper bags that protected products like gas masks, exhaust fans, clothing, dehydrated soups, and airplane parts during overseas shipment. 4 2007 Annual Report As the company approached its 100th anniversary in 1958, Bemis saw several changes in the bag market that inspired new, innovative products and shifting business priorities. Bemis expanded into the exciting new world of plastics, opening several new facilities dedicated to the extrusion, printing, and conversion of polyethylene. The company began by adding polyethylene departments into its existing facilities and went on to open its own plants in Terre Haute, Indiana and Flemington, New Jersey in 1956. In 1959, Bemis entered into the pressure-sensitive adhesives business with the Morgan Adhesives Company (now known as MACtac) of Stow, Ohio, eventually becoming a leading manufacturer of pressure-sensitive products.
In the 1960s, Bemis embarked on an era of intense diversification, acquiring many companies with specialties ranging from reprographic products to vinyl clothing and wall coverings. The majority of these acquired companies were later sold. In 1965, Bemis acquired Curwood, a manufacturer of film packaging for cheese and other perishable food products, which is now Bemis’ largest subsidiary. Also in 1965, Bemis Bro. Bag Company became Bemis Company, Inc. The name allowed the company to retain the respected Bemis moniker, and was versatile enough to serve as an umbrella for the company’s increasingly diverse product lines. In 1966, Bemis stock (which was issued for the first time in 1885) was listed on the New York Stock Exchange, under the ticker symbol BMS. Bemis altered its growth strategy in the 1980s from acquisitions to internal improvements, including the significant expansion of Curwood, which opened a new state-of-the-art facility in Oshkosh, Wisconsin. As convenience became the buzzword of the day, Bemis created packaging solutions that fit into consumers’ increasingly on-the-go lifestyles like frozen entrée trays that could be used in microwaves and traditional ovens, heat-in pouches, and vacuumpacked brick pack coffee packages. In the 1990s, Bemis again embarked on an acquisition strategy, acquiring companies that could contribute to its core businesses and entering into new markets like the medical device packaging industry. Bemis’ international presence has also grown significantly, due in particular to its acquisition of Brazilian company Dixie Toga in 2005 and to Bemis’ European and Asian expansion. 5 Celebrating 150 Years As the twenty-first century progresses, Bemis continues to create innovative flexible packaging and pressure sensitive solutions with products that meet the demands of the modern world.
Page 1 and 2: 2007 ANNUAL REPORT
Page 3 and 4: FINANCIAL HIGHLIGHTS Years Ended De
Page 5: In 1900, in order to secure a depen
Page 9 and 10: BUSINESS STRATEGY Our long-term bus
Page 11 and 12: Pictured from left to right are Hen
Page 13 and 14: PRESSURE SENSITIVE MATERIALS In 195
Page 15 and 16: This pizza package utilizes our ICE
Page 17 and 18: This pizza package utilizes our ICE
Page 19 and 20: BEMIS OFFICERS & DIRECTORS Director
Page 21 and 22: $0.94 $1.54 $0.40 $0.52 $144 $287 D
Page 23 and 24: UNITED STATES SECURITIES AND EXCHAN
Page 25 and 26: PART I - ITEMS 1, 1A, 1B, 2, 3, and
Page 27 and 28: Blown film - A plastic film that is
Page 29 and 30: and the application of such policie
Page 31 and 32: Equity compensation plans as of Dec
Page 33 and 34: Diluted earnings per share were $1.
Page 35 and 36: Research and Development Our effort
Page 37 and 38: (5) Purchase obligations represent
Page 39 and 40: Total increase (decrease) in Accumu
Page 41 and 42: Report of Independent Registered Pu
Page 43 and 44: BEMIS COMPANY, INC. AND SUBSIDIARIE
Page 45 and 46: BEMIS COMPANY, INC. AND SUBSIDIARIE
Page 47 and 48: Taxes on undistributed earnings: No
Page 49 and 50: In early 2008, the FASB issued Staf
Page 51 and 52: Also in January 2006, the Company c
Page 53 and 54: Accumulated other comprehensive inc
Page 55 and 56: (in thousands) 2007 2006 Change in
Page 57 and 58:
Note 9 - LONG-TERM DEBT Debt consis
Page 59 and 60:
that a valuation allowance of $7.1
Page 61 and 62:
(in millions) 2007 2006 2005 Identi
Page 63 and 64:
ITEM 9 - CHANGES IN AND DISAGREEMEN
Page 65 and 66:
PART IV - ITEM 15 ITEM 15 - EXHIBIT
Page 67 and 68:
Exhibit Index Exhibit Description F
Page 69 and 70:
EXHIBIT 21 - SUBSIDIARIES OF THE RE
Page 71 and 72:
EXHIBIT 23 - CONSENT OF PRICEWATERH
Page 73 and 74:
(THIS PAGE INTENTIONALLY BLANK) 51
Page 75 and 76:
SHAREHOLDER & CORPORATE Information
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