French aluminium producer PECHINEY has launched through its subsidiary PPPI - PECHINEY PLASTIC PACKAGING (turnover $81 million in 1999) a public offering on the US manufacturer of flexible packaging and plastic bottles JPS PACKAGING. At $7.86 per share, the bid gives JPS PACKAGING a value of $45 million. The GEORGE K BAUM group, which holds 36% of JPS capital, should sell its shares to the bidder.