Yesterday Rio Tinto (RIO) has made an announcement that it is about to sell off the Food Americas division of the Alcan Packaging business to Bemis for 1.2 billion US dollars among which 200 million will be paid in the form of Bemis stocks. The Food Americas division of Alcan has generated around 1.5 billion US dollars in 2008 with an earning of 166 million US dollars before Tax, depreciation, amortization and interest.

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