Welcome to our dedicated page for Sealed Air Cp news (Ticker: SEE), a resource for investors and traders seeking the latest updates and insights on Sealed Air Cp stock.
Sealed Air Corporation (NYSE: SEE) is a global leader in packaging solutions, committed to creating a world that feels, tastes, and works better through innovation and sustainability. In 2023, the company generated $5.5 billion in sales, supported by approximately 17,000 employees serving customers in 115 countries.
Sealed Air’s operations are segmented into two main categories: Food Care and Product Care. The Food Care division offers food packaging products under brands like Cryovac®, Darfresh®, and OptiDure™, primarily targeting meat products. The Product Care division includes iconic brands such as Bubble Wrap®, Instapak®, Jiffy® mailers, and shrink film packaging systems designed for industrial and e-commerce applications.
The company’s portfolio of renowned brands ensures a safer, less wasteful food supply chain, protects valuable goods during global shipments, and enhances health through improved hygiene solutions. In recent years, Sealed Air has made significant strides in sustainability, achieving net sales of $1.33 billion in Q1 2024, and focusing on eco-friendly initiatives through the SEE Impact Report 2022.
Sealed Air is dedicated to sustainability, integrating automation, digital, and sustainable packaging solutions to help customers achieve their environmental goals. It pursues scalable solutions to promote circularity, prevent waste, and reduce reliance on natural resources. Collaborations and innovative technologies keep Sealed Air at the forefront of the packaging industry, ensuring high performance and sustainable growth.
For more information, visit www.sealedair.com.
Sealed Air (SEE) has announced a cash tender offer for its 5.500% Senior Notes due 2025. The offer targets any and all outstanding notes of this issue. The principal amount outstanding is $400 million. The offer will expire on June 24, 2024, at 5:00 p.m. (NYC time). Notes tendered may be withdrawn before the expiration date. The total consideration for each $1,000 principal amount will be determined by adding a fixed spread of 50 basis points to the yield to maturity based on the bid-side price of the reference security. In addition to the total consideration, accrued and unpaid interest up to, but not including, the settlement date (expected June 28, 2024) will be paid. The offer is subject to SEE's completion of a new debt securities offering. J.P. Morgan Securities is the exclusive Dealer Manager for the tender offer.
SEE (NYSE: SEE) has announced the appointment of Patrick Kivits as its new CEO, effective July 1, 2024. The decision follows an extensive search process. Kivits, who will also join the Board of Directors, brings a strong background from WestRock and extensive experience in the packaging industry.
Emile Chammas will continue as Chief Operating Officer, while Dustin Semach is promoted to President and Chief Financial Officer. SEE's Board Chairman, Henry Keizer, expressed confidence in Kivits' ability to drive growth and transformation at SEE.
Kivits expressed enthusiasm about joining SEE and collaborating with Chammas and Semach to further the company’s transformational journey. His previous roles at WestRock and H.B. Fuller highlight his capabilities in operational and commercial transformations in the packaging sector.
SEE is advancing circular business models to address plastic waste.
Dr. Timi Fadiran leads efforts to identify and implement new recycling technologies for flexible packaging.
SEE's collaboration with advanced recycling technology providers is important to its strategy.
SEE's initiatives include establishing testing capabilities for product recyclability and exploring advanced recycling methods like chemical and molecular recycling.
SEE's partnerships, including those with ExxonMobil and Ahold Delhaize USA, showcase the feasibility of advanced recycling solutions.
SEE is investing in companies like Plastic Energy and collaborating with the REMADE Institute to promote circularity.
These efforts aim to reduce plastic waste, decrease reliance on natural resources, and create a sustainable competitive advantage.
Cole's Victory Lap, an initiative inspired by Erin Henderson and her son Cole, aims to support families dealing with childhood neuroblastoma. The project provides comfort through activities like offering nutritious snacks and transforming hospital rooms with themed bedsheets. In collaboration with Prisma Health Greenville Memorial Hospital, the initiative is part of the 'Inspire Courage Campaign,' which seeks to fund a permanent pediatric hematology/oncology center. The campaign has already received a $1 million lead gift from Hogs for a Cause, helping kickstart its $6 million goal.
SEE has introduced groundbreaking solutions in packaging to reduce waste and improve efficiency. The Automated Tire Wrap Solution decreases plastic use by 65%, labor by 60%, and enhances fulfillment speed by up to 7 times. BUBBLE WRAP® brand cushioning now contains up to 90% recycled content, promoting sustainability. Fortem® biopharmaceutical film, engineered for bioprocessing, maintains integrity under stress and is produced in cleanroom conditions. CRYOVAC® brand Darfresh® mono-PET rollstock, used by JBS Foods Australia, reduces plastic waste by 5,000 kg annually and extends product shelf life to 18 days, winning awards for its innovation.
SEE (NYSE: SEE) has announced a quarterly cash dividend of $0.20 per common share.
This dividend is payable on June 28, 2024, to stockholders recorded as of June 14, 2024.
SEE has launched a new initiative in Australia to advance the circularity of food packaging. Partnering with ExxonMobil, the company will divert approximately 900 tonnes of plastic waste annually from landfills or incineration. This initiative involves the use of CRYOVAC® brand preformed food trays made with advanced recycling technology and certified by the International Sustainability and Carbon Certification PLUS standard. Additionally, SEE's BUBBLE WRAP® brand has introduced inflatable packaging solutions designed for recycling, which include the thinnest air pillows in the market and films made from 30% recycled content. These innovations aim to reduce material use, lower carbon footprints, and comply with plastic tax regulations.
Atlas Holdings has announced the sale of NPX One, a top manufacturer of polystyrene trays for fresh protein in the U.S., to Breck Partners. The terms of the transaction were not disclosed. NPX One, previously known as Novipax, was acquired by Atlas in 2015 and has now been sold after almost a decade. The company boasts a strong customer base and a history of innovation in food tray manufacturing.
SEE's comprehensive sustainability approach focuses on environmental responsibility, offering scalable solutions like the AUTOBAG® brand 850S paper system and CRYOVAC® brand offerings. The company also provides digital printing services through prismiq™ and automated carbon footprint solutions, aiming to drive sustainability across the value chain.
SEE reported Q1 2024 results with net sales of $1.33 billion, down 1%, and net earnings of $83 million, up 33%. Adjusted EBITDA was $278 million, up 4%. Cash flow from operations was $125 million, up 141%. The company reaffirmed its 2024 full-year outlook with expectations of net sales in the range of $5.2 to $5.6 billion and Adjusted EBITDA of $1.05 to $1.15 billion.
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