MINNEAPOLIS -- Bemis Company, Inc., has reached an agreement to sell its global pressure sensitive materials business (known as MACtac) to UPM-Kymmene for $420 million. In a separately negotiated transaction, Bemis has reached an agreement to acquire the Walki Films Division of UPM-Kymmene for $70 million.

MACtac recorded global net sales of $491 million in 2001. The sale of MACtac includes all elements of Bemis' global pressure sensitive materials business including manufacturing facilities in Columbus, Ind.; Hopkins, Minn.; Nellis, Nev.; Stow, Ohio; Scranton, Pa.; Soignies, Belgium; and San Luis Potosi, Mexico.

Jeffrey Curler, president and CEO of Bemis Co., Inc., said, "Today's announcement represents an opportunity for our MACtac business to be part of UPM-Kymmene's broad line of converting-material products, and signals a bright future for the MACtac business and employees. The sale of this business segment will allow us to focus all of our resources on our flexible-packaging business."

More information about the company is available at www.bemis.com.