SECURITIES AND EXCHANGE COMMISSION
Washington, DC  20549
FORM 10-K

ANNUAL REPORT PURSUANT TO SECTION 13 OF
THE SECURITIES EXCHANGE ACT OF 1934

For the Fiscal Year Ended December 31, 2000
Commission File Number 1-5277

BEMIS COMPANY, INC.
(Exact name of Registrant as specified in its charter)

222 South 9th Street, Suite 2300, Minneapolis, Minnesota  55402-4099
(Address of principal executive offices)

Registrant's telephone number, including area code:   (612) 376-3000

Securities registered pursuant to Section 12(b) of the Act:

Securities registered pursuant to section 12(g) of the Act:   None

Indicate by check mark whether the Registrant has filed all reports required to be filed by Section 13 of the Securities Exchange Act of 1934 during the preceding 12 months and has been subject to such filing requirements for the past 90 days.      YES   X        NO___

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the Registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.   [X]

The aggregate market value of the voting stock held by nonaffiliates of the Registrant on March 5, 2001, based on a closing price of $34.35 per share as reported on the New York Stock Exchange, was $1,813,869,000.  As of March 5, 2001, the Registrant had 52,805,495 shares of Common Stock issued and outstanding.

Documents Incorporated by Reference
2000 Annual Report to Stockholders - Part I  and Part II
Proxy Statement - Annual Meeting of Stockholders
May 3, 2001 - Part I and Part III

ITEM 1 - BUSINESS

          Bemis Company, Inc., a Missouri corporation (the “Registrant”), continues a business formed in 1858.  The Registrant was incorporated in 1885 as Bemis Bro. Bag Company with the name changed to Bemis Company, Inc. in 1965.  The Registrant is a principal manufacturer of flexible packaging products and pressure sensitive materials selling to customers throughout the United States, Canada, and Europe with a growing presence in Asia Pacific, South America, and Mexico.  In 2000, approximately 77 percent of the Registrant’s sales were derived from Flexible Packaging and approximately 23 percent were derived from Pressure Sensitive Materials.

          The primary market for its products is the food industry.  Other markets include companies in chemical, agribusiness, medical, pharmaceutical, personal care products, batteries, electronics, automotive, construction, graphic industries, and other consumer goods.  Further information about the Registrant's operations in different business segments appearing on page 40 of the accompanying 2000 Annual Report to Shareholders is expressly incorporated by reference in this Form 10-K Annual Report.

          As of December 31, 2000, the Registrant had approximately 11,000 employees, of which an estimated 7,800 were classified as production employees.  Many of the production employees are covered by collective bargaining contracts involving five different international unions and 18 individual contracts with terms ranging from three to six years.  During 2000, four contracts covering approximately 800 employees at four different locations in the United States were successfully negotiated.  During 2001, one Canadian and two domestic labor agreements are scheduled to expire.

          Working capital elements throughout the year fluctuate in relation to the level of business.  Customer and vendor payment terms are split approximately equal between net 30 days and discountable terms.  Discounts are generally one percent for payment within ten days.  Inventory levels reflect a reasonable balance between raw material pricing and availability, and the Registrant’s commitment to promptly fill customer orders.  Backlogs are not a significant factor in the industries in which the Registrant operates; most orders placed with the Registrant are for delivery within 90 days or less.

          The Registrant owns patents, licenses, trademarks, and trade names on its products.  The loss of any or all patents, licenses, trademarks, or trade names would not have a material adverse effect on the Registrant's results as a whole or either of its segments.  The business of each of the segments is not seasonal to any significant extent.

          The Registrant’s business activities are organized around its two business segments, Flexible Packaging and Pressure Sensitive Materials.  Both internal and external reporting conform to this organizational structure.  Subdivisions within each principal business segment are identified to facilitate operating controls and responsibilities.  Aggregated subdivisions within the Flexible Packaging segment are high barrier products, polyethylene products, and paper products.  Aggregated subdivisions within the Pressure Sensitive Materials segment are roll label products, graphics and distribution products, and technical and industrial products.  A summary of the Registrant's business activities reported by its two business segments follows:

Flexible Packaging

          The Registrant and its subsidiaries manufacture a broad range of consumer and industrial packaging consisting of high barrier products, polyethylene products, and paper products.

          High barrier products include flexible polymer film structures and barrier laminates for food, medical, and personal care products as well as non-food applications utilizing controlled and modified atmosphere packaging. Value is added through flexographic and rotogravure printing as well as pouch making.   Primary markets are processed and fresh meat, liquids, snacks, cheese, coffee, condiments, candy, pet food, personal care, and medical packaging.  Additional products include blown and cast stretchfilm products, carton sealing tapes and application equipment, and custom thermoformed plastic packaging.  Also included are electronically produced film color separations and engravings used in rotogravure and flexographic printing by the packaging industry.  High barrier products accounted for 42 percent, 40 percent, and 39 percent of consolidated net sales for the years 2000, 1999, and 1998, respectively.

          Polyethylene products consist of monolayer and coextruded films which have been flexographically printed and converted to bags or roll stock for such items as bakery products, seed, retail, lawn and garden, ice, fresh and frozen produce, candy, sanitary products, and disposable diapers; printed shrink overwrap for the food and beverage industry; extruded products including wide width sheeting, bags on a roll, balers, and shrink pallet covers.  Polyethylene products accounted for 26 percent, 25 percent, and 25 percent of consolidated net sales for the years 2000, 1999, and 1998, respectively.

          Paper products are made up of multiwall and small paper bags, balers, printed paper roll stock, and bag closing materials for dry pet food and agricultural/chemical products.  Flexographic and rotogravure printing are enhanced with in-line overlaminating capabilities.  Innovations in bag constructions include inner-ply laminations of odor, grease, and moisture barriers in addition to easy-open, reclosable, and convenient handle features.  Primary markets include pet products, seed, chemicals, dairy products, fertilizers, feed, minerals, flour, rice, and sugar.  Sales of paper products accounted for 9 percent, 10 percent, and 10 percent of consolidated net sales for 2000, 1999, and 1998, respectively.

Pressure Sensitive Materials

          The Registrant through its subsidiaries manufactures pressure sensitive materials such as roll label products, graphics and distribution products, and technical and industrial products.  Pressure Sensitive Materials accounted for 23 percent, 25 percent, and 26 percent of consolidated net sales for the years 2000, 1999, and 1998, respectively.

          Roll label products include narrow-web rolls of pressure sensitive film, paper, and metalized film printing stocks used in high-speed printing and die-cutting of primary package labeling, secondary or promotional decoration, and for high-speed, high-volume data processing (EDP) stocks, bar code labels, and numerous laser printing applications.  Primary markets include food packaging, personal care product packaging, inventory control labeling, and laser/ink jet printed labels.