Sealed Air Announces Price Increases in North America for Its Food Care Products
September 25 2014 - 7:42AM
Business Wire
Sealed Air Corporation (NYSE:SEE) today announced that it is
implementing price increases between 3% and 5% for the majority of
its North American Food Care division products, effective October
6, 2014.
“As we similarly announced for our Product Care Division in
August, our price increases for Food Care division are in direct
response to the continued escalation of our key raw materials and
other input costs, in particular polyethylene and nylon, which all
major petrochemical suppliers increased prices for on September 1.
These new price increases from our suppliers are on top of
significant increases announced earlier this year. Cumulatively,
since January 2013 the PE suppliers have increased prices between
13-22%, which includes a 4-8% in early 2014,” said Jerome A.
Peribere, President and CEO, Sealed Air.
About Sealed Air
Sealed Air Corporation creates a world that feels, tastes and
works better. In 2013, the Company generated revenue of
approximately $7.7 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, ensures 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
25,000 employees who serve customers in 175 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
Statements in this press release may be “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 concerning our business, consolidated financial
condition and results of operations. These statements include
comments as to future events that may affect Sealed Air, which are
based upon management’s current expectations and are subject to
uncertainties, many of which are outside Sealed Air’s control.
Forward-looking statements can be identified by such words as
“anticipates,” “expects,” “believes,” “plan,” “could,” “estimate,”
“will” and similar expressions. A variety of factors may cause
actual results to differ materially from these expectations,
including economic conditions affecting packaging utilization,
changes in raw material costs, currency translation effects, and
legal proceedings. For more extensive information, see “Risk
Factors” and “Cautionary Notice Regarding Forward-Looking
Statements,” which appear in our most recent Annual Report on Form
10-K, as may be revised and updated from time to time by our
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as
filed with the Securities and Exchange Commission. These reports
are available on the Securities and Exchange Commission’s website
at www.sec.gov or our Investor Relations home page at
http://ir.sealedair.com. Information on Sealed Air’s website is not
incorporated into, and does not form a part of, this press release.
Sealed Air does not undertake any obligation to publicly update any
forward-looking statement to reflect events or circumstances after
the date on which any such statement is made or to reflect the
occurrence of unanticipated events.
Sealed Air CorporationInvestor Contact:Lori Chaitman,
201-703-4161orMedia Contact:Ken Aurichio, 201-703-4164
Sealed Air (NYSE:SEE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sealed Air (NYSE:SEE)
Historical Stock Chart
From Apr 2023 to Apr 2024