Accelerating commitment to renewable solutions,
recyclability and sustainability
Sealed Air Corporation (NYSE:SEE) has entered into an agreement
with Kuraray America, Inc. (Kuraray), a Japanese chemical company,
to offer food packaging materials derived from its Plantic™
bio-based resins.
“We are expanding our portfolio of sustainable solutions with
Plantic’s bio-based materials. This solution enables us to offer a
renewable packaging option and continue helping the industry
address food waste by extending the shelf-life and freshness of
food,” said Karl Deily, President of Sealed Air Food Care.
Through this new cooperation with Kuraray, Sealed Air will offer
Plantic materials to package perishable foods such as poultry, beef
and seafood in the U.S., Canada and Mexico. The materials provide a
highly effective oxygen barrier that is also cost competitive with
traditional rollstock barrier films.
“This investment not only accelerates Sealed Air’s commitment to
renewability, recyclability and innovation, it is also an important
pivot point for expanding the market leadership of the Cryovac® and
Bubble Wrap® brands,” said Ted Doheny, Sealed Air President and
Chief Executive Officer.
“This agreement with Sealed Air expands the options for
sustainable bio-based barrier packaging that will benefit
consumers, retailers and processors equally,” stated Robert
Armstrong, General Manager of EVAL and Plantic, Kuraray America,
Inc. “Plantic materials set a new standard for bio-based barrier
packaging performance, provide unmatched sustainability metrics and
can be recycled through traditional streams in some countries
including Australia.”
For more information on this agreement or associated offerings,
visit www.sealedair.com or www.kuraray.us.com.
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.
About Kuraray
Founded in 1926 in Kurashiki, Japan, Kuraray Co., Ltd. is a
world leader in performance-based polymer and synthetic chemistry
technologies, including resins, chemical, fibers and textiles. It
was the first entity in the world to bring ethylene vinyl alcohol
(EVOH) polymers to market. The company operates 19 subsidiaries
around the world, including Kuraray America, Inc., which is
headquartered in Houston. The U.S. division is a world leader in
barrier polymer material with products like EVAL™ EVOH and Plantic,
a bio-based polymer with barrier properties. For more information,
visit www.evalevoh.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: 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.
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Sealed Air CorporationInvestors:Lori Chaitman,
704-503-8841orMedia:Julianna Jacobson, 571-236-4256
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