Bemis Company Inc. (BMS - Analyst Report) has joined forces with Thin Film Electronics ASA to develop “intelligent” sensor labels for consumer product, healthcare and food companies. The labels will record information such as key physical properties, environmental conditions the products have passed through and the time taken from the factory to a distrbution outlet.
Oslo-based Thin Film had earlier announced technology partnerships where it worked on developing a low-cost, integrated, time-temperature sensor that will be helpful in monitoring perishable goods and pharmaceuticals. As per this deal with Bemis, Thin Film will extend that know-how to create a “customizable sensor platform” that Bemis can subsequently adapt as per customer needs. The Bemis Intelligent Packaging Platform is slated to be commercially available in 2014.
Bemis’ packaging is used across a diverse range of products from food items to medical devices and personal care items. Its customers include leading food and consumer products companies around the world. The flexible packaging market for North America is estimated at around $18.3 billion. Bemis eventually plans to add this technology to every package that it manufactures.
The food industry faces stiff competition and manufacturers, distributors and retailers alike are exploring ways to maximize efficiency, minimize cost and avoid waste. Furthermore, with increased government regulation, it is imperative to closely monitor and ensure a high quality of supply chain conditions for food products. These low-cost intelligent labels will help minimize food waste and save cost. It will also add value to the package by instilling user confidence that the products are of optimal quality and will definitely provide a competitive edge to Bemis.
Neenah, Wisconsin-based Bemis Company is a major supplier of flexible packaging and pressure sensitive materials used by leading food, consumer products, healthcare and other companies worldwide. Bemis competes with Sealed Air Corporation (SEE - Analyst Report) and Avery Dennison Corporation (AVY - Analyst Report) . Shares of Bemis currently retain a Zacks #3 Rank (short-term Hold rating).