Amcor winds up Bemis integration ahead of schedule

ZURICH — Packaging firm Amcor reported net income of $612 million for fiscal 2020 along with earnings of $0.38 per share. Adjusted earnings of $0.64 per share were up 13 percent in constant currency terms. At the same time, the company said its integration of Bemis, which it acquired in June of last year, was essentially completed within 12 months, in advance of the target date. “Benefits from the transformational acquisition of Bemis were increasingly evident through the year,” said CEO Ron Delia. “We made excellent progress in this first year of integration, with cost synergies almost 30 percent higher than original expectations and performance across the combined flexibles packaging business building momentum.”