Sealed Air Announces Price Increases for Its North American Food Care Products
September 25 2017 - 4:30PM
Business Wire
Sealed Air Corporation (NYSE:SEE) today announced price
increases ranging from five to eight percent for the majority of
its Food Care division’s North American products. The increases
will be effective October 2, 2017.
“Sealed Air has not had a price increase for Food Care products
in North America since 2014, and we are working to minimize the
cost adjustments and their impact on our customers,” said Karl R.
Deily, President, Sealed Air Food Care; “However, notable increases
in our input costs, including a 31% rise in the price of
polyethylene since 2016, make changes to our prices necessary in
order to continue to deliver the same level of value and innovation
to our customers.”
The price changes include a five percent increase on all shrink
bags, rollstock products, food films and vertical pouch packaging,
as well as a six percent increase on unpadded solid plastic trays
and an eight percent increase on pre-padded solid plastic
trays.
Business
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 $4.2
billion in sales in 2016 and has approximately 14,000
employees who serve customers in 117 countries. To learn more,
visit www.sealedair.com.
Website Information
We routinely post important information for investors on our
website, www.sealedair.com, in the "Investor Relations"
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 Investor Relations 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.
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 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170925006389/en/
For Sealed Air CorporationInvestors:Lori Chaitman,
201-712-7310orMedia:Ken Aurichio, 917-693-5417
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