Sealed Air Acquires Brazilian Food Packaging Business

Wednesday, August 2, 2017

CHARLOTTE, N.C. – August 2, 2017 -  Sealed Air Corporation (NYSE:SEE) announced today the acquisition of Deltaplam Embalagens Indústria e Comércio Ltda (Deltaplam), a family owned and operated Brazilian flexible packaging manufacturer.  Helping food customers primarily in Brazil, the company utilizes top extrusion technology to create recyclable, high barrier shrinkable bags, multilayer films, laminates and pouches.

“Combined with Sealed Air’s leading global expertise and packaging solutions, this acquisition strengthens our position in Latin America and enhances our portfolio of innovative, value-added solutions for our customers,” said Karl R. Deily, President of Sealed Air’s Food Care division.  “This investment also expands our portfolio of consumer unit package solutions and extends our reach into several new market segments."

Deltaplam, established in 1994, is headquartered in Londrina, Parana and employs more than 100 people today.  Sealed Air has had a presence in Brazil for more than 55 years and employs more than 3,400 people in Latin America.

Terms of the transaction were not disclosed and are not material to Sealed Air’s financial results.  

Business

Sealed Air Corporation creates a world that feels, tastes and works better. In 2016, the Company generated revenue of approximately $6.8 billion by helping our customers achieve their sustainability goals in the face of today’s biggest social and environmental challenges. Our portfolio of widely recognized brands, including Cryovac® brand food packaging solutions, Bubble Wrap® brand cushioning and Diversey® cleaning and hygiene solutions, enables a safer and less wasteful food supply chain, protects valuable goods shipped around the world, and improves health through clean environments. Sealed Air has approximately 23,000 employees who serve customers in 171 countries. To learn more, visit www.sealedair.com.

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Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 concerning our business, consolidated financial condition and results of operations. Forward-looking statements are subject to risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially from these statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by such words as "anticipates," "believes," "plan," "assumes," "could," "should," "estimates," "expects," "intends," "potential," "seek," "predict," "may," "will" and similar references to future periods. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, expectations regarding the results of restructuring and other programs, anticipated levels of capital expenditures and expectations of the effect on our financial condition of claims, litigation, environmental costs, contingent liabilities and governmental and regulatory investigations and proceedings. The following are important factors that we believe could cause actual results to differ materially from those in our forward-looking statements: the tax benefits associated with the Settlement agreement (as defined in our 2016 Annual Report on Form 10-K), global economic and political conditions, changes in our credit ratings, changes in raw material pricing and availability, changes in energy costs, competitive conditions, the success of the sale of the Diversey Care division and food hygiene business, the success of our restructuring activities, currency translation and devaluation effects, the success of our financial growth, profitability, cash generation and manufacturing strategies and our cost reduction and productivity efforts, the success of new product offerings, the effects of animal and food-related health issues, pandemics, consumer preferences, environmental matters, regulatory actions and legal matters, and the other information referenced in the "Risk Factors" section appearing in our most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, and as revised and updated by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement made by us is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Contact: 

Investor Contact:

Lori Chaitman

201-703-4161

 

Media Contact:

Ken Aurichio

201-703-4164