Sealed Air Announces Price Increases for Its North American Product Care Products
February 06 2017 - 7:30AM
Business Wire
Sealed Air Corporation (NYSE:SEE) today announced that it is
implementing a price increase of four percent for the majority of
its North American Product Care division packaging products,
effective March 1st, 2017.
This price adjustment is in response to increases in the cost of
resin and other raw materials that are expected during 2017, and to
address the rise in other input costs such as labor, utilities,
freight, and supplies.
“We have taken significant actions across the Product Care
business to offset these cost increases over the past few years
while maintaining our commitment to providing the most innovative
solutions to our customers. In doing so we have mitigated the need
for broad price adjustments across our portfolio since 2014;
however, market forces require that we take action now to counter
these inflationary increases, including the recent rise in
petroleum based input cost.” said Kenneth P. Chrisman, President of
Sealed Air’s Product Care division.
The four percent price increase will be applied to: NewAir I.B.®
Film, Bubble Wrap® IB Film, Fill-Air® Inflatables Film, Instapak®
Film & Dispenser Solution,Bubble Wrap® Air Cellular Packaging,
Jiffy® & Jiffy® TuffGard ® Mailers, Cell-Aire® Packaging Foam,
Korrvu® Suspension & Retention Packaging, PriorityWrap®
materials, all shrink film product lines, and consumable paper for
all paper systems.
Business
Sealed Air Corporation creates a world that feels, tastes and
works better. In 2015, the Company generated revenue of
approximately $7.0 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 169
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 2015 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 spin of
the Diversey Care and related 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170206005318/en/
Sealed Air CorporationInvestors:Lori Chaitman,
201-712-7310orMedia:Ken Aurichio, 917-693-5417
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