SEE Divests Reflectix® Business

Rhea-AI Summary

Sealed Air (NYSE: SEE) has successfully sold its Reflectix® business to an affiliate of Balcan Innovations. Reflectix, the leading brand in reflective insulation solutions, was known for its extensive distribution network across North America, including over 3,500 retail locations. This divestiture aligns with SEE's strategy to refocus on becoming a digitally driven company that emphasizes sustainable packaging solutions. The Reflectix manufacturing facility in Markleville, Indiana, employs around 80 people, which is part of the transaction.

Positive

• Successful sale of Reflectix business allowing for strategic realignment.
• Reflectix was the largest brand in its category, indicating strong market presence.

Negative

• Potential loss of revenue from Reflectix sales post-divestiture.
• Impact on employees at the Markleville facility due to the sale.

CHARLOTTE, N.C.--(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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211102005832/en/

Company Contacts



Investor Relations

Lori Chaitman

lori.chaitman@sealedair.com

516.458.4455



Media

Christina Griffin

Christina.griffin@sealedair.com

704.430.5742

Source: Sealed Air

FAQ

What is the recent transaction involving Sealed Air (SEE)?

Sealed Air has sold its Reflectix® business to an affiliate of Balcan Innovations.

How many employees were associated with the Reflectix manufacturing facility?

The Reflectix manufacturing facility in Markleville, Indiana, employs approximately 80 employees.

What is Reflectix known for?

Reflectix is recognized as the largest brand of reflective insulation solutions in North America.

What is Sealed Air's strategy after the sale of Reflectix?

Sealed Air aims to become a world-class, digitally driven company focusing on sustainable packaging solutions.

How many retail locations distribute Reflectix products?

Reflectix products are distributed through over 3,500 dealer, distributor, and retail locations in North America.