Sealed Air Announces Bold 2025 Sustainability and Plastics Pledge
CHARLOTTE, NC, OCTOBER 29, 2018 – Sealed Air Corporation (NYSE: SEE) today announced a bold sustainability and plastics pledge to design and advance their innovative packaging solutions to be 100% recyclable or reusable by 2025. The company will accelerate its use of recycled materials, expand reuse models for packaging and lead the collaboration with partners worldwide to ensure execution.
“At Sealed Air, we strive to leave our world, environment and communities better than we found them by leading innovative efforts to create differentiated, sustainable solutions,” said Ted Doheny, Sealed Air President and CEO. “Our history of sustainability is strengthened through our new sustainability and plastics pledge and, as an industry leader, it’s our responsibility to build a waste-free future, keep our oceans clean and leave a lighter carbon footprint.”
Sealed Air pledges to accelerate efforts within their operations, its customers’ operations and, ultimately, the consumer, and will:
- Invest in Innovation: Design and advance packaging solutions to be 100% recyclable or reusable
- Eliminate Plastic Waste: Achieve an ambitious target of 50% average recycled content across all packaging solutions of which 60% is post-consumer recycled content
- Collaborate for Change: Lead collaborations with partners worldwide to increase recycling and reuse rates
“We are committed to developing packaging solutions that maximize product protection, resource efficiency and material circularity,” said Dr. Ron Cotterman, Sealed Air Vice President, Corporate Innovation and Sustainability. “Plastic packaging materials need to be ideally suited to meet the essential requirements of today’s complex supply chains that demand properties such as sealability, toughness and clarity. By focusing on product design, renewable and recycled materials and recovery processes, we will drive innovations that enhance performance and efficiency.”
Sealed Air is a participant in the Ellen MacArthur Foundation’s New Plastics Economy initiative and recently became a signatory to the New Plastics Economy Global Commitment. In addition to this new global plastics commitment, Sealed Air continues to invest in an expanding portfolio of sustainable solutions such as food packaging made from Plantic™ plant-based starch and recovered materials, EcoPure plant-based cushioning foams, newly released Cryovac® Darfresh® skin packaging options made with recycled PET materials and curbside recyclable temperature assurance solutions.
About Sealed Air
Sealed Air Corporation is a knowledge-based company focused on packaging solutions that help 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 and Bubble Wrap® brand cushioning, enable a safer and less wasteful food supply chain and protect valuable goods shipped around the world. Sealed Air generated $4.5 billion in sales in 2017 and has approximately 15,000 employees who serve customers in 122 countries. To learn more, visit www.sealedair.com.
We routinely post important information for investors on our website, www.sealedair.com, in the Investors section. We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.
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: global economic and political conditions, currency translation and devaluation effects, changes in raw material pricing and availability, competitive conditions, the success of new product offerings, consumer preferences, the effects of animal and food-related health issues, pandemics, changes in energy costs, environmental matters, the success of our restructuring activities, the success of our financial growth, profitability, cash generation and manufacturing strategies and our cost reduction and productivity efforts, changes in our credit ratings, the tax benefit associated with the Settlement agreement (as defined in our 2017 Annual Report on Form 10-K), 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.