SEE Divests Reflectix® Business
November 02 2021 - 8:20AM
Business Wire
SEE (NYSE: SEE) today announced it has completed the sale of its
Reflectix® business to an affiliate of Balcan Innovations.
Under SEE’s ownership, Reflectix grew to become the largest
brand of reflective insulation solutions serving construction,
HVAC, and insulation applications for residential do-it-yourself
and pro-channels. Reflectix’s products are widely distributed in
North America through more than 3,500 dealer, distributor and
retail locations.
The transaction includes Reflectix manufacturing facilities in
Markleville, Indiana, where they employ approximately 80
employees.
SEE’s strategy is to become a world-class, digitally driven
company automating sustainable packaging solutions. The divestiture
of Reflectix is part of the company’s strategic realignment of its
business portfolio.
About SEE
Sealed Air (NYSE: SEE) is in business to protect, to solve
critical packaging challenges, and to make our world better than we
found it. Our automated packaging solutions systems create a safer,
more resilient and less wasteful global food supply chain, enable
e-commerce, and protect goods transported worldwide.
Our globally recognized brands include CRYOVAC® brand food
packaging, SEALED AIR® brand protective packaging, AUTOBAG® brand
automated systems, BUBBLE WRAP® brand packaging, and SEE™ Touchless
Automation™ solutions.
SEE’s Operating Model, along with our industry-leading expertise
in materials, engineering and technology, create value through more
sustainable, automated, and digitally connected packaging
solutions.
We are leading the packaging industry to create a more
environmentally, socially, and economically sustainable future and
have pledged to design or advance 100% of our packaging materials
to be recyclable or reusable by 2025, and a bolder goal to reach
net-zero carbon emissions in our global operations by 2040. Our
Global Impact Report highlights how we are shaping the future of
the packaging industry. We are also committed to a diverse
workforce and inclusive culture through our 2025 Diversity, Equity
and Inclusion pledge.
SEE generated $4.9 billion in sales in 2020 and has
approximately 16,500 employees who serve customers in 117
countries/territories. To learn more, visit sealedair.com.
Website Information
We routinely post important information for investors on our
website, 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.
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Company Contacts Investor
Relations Lori Chaitman lori.chaitman@sealedair.com
516.458.4455 Media Christina Griffin
Christina.griffin@sealedair.com 704.430.5742
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