By Narrative Science Wall Street is optimistic about Sealed Air, which is slated to report its second quarter results on Friday, August 2, 2013. Analysts project a profit of 25 cents a share, a rise from 20 cents per share a year ago. …read more
Source: FULL ARTICLE at Forbes Markets
By Business Wirevia The Motley Fool
Filed under: Investing
Sealed Air Announces Completion of Tender Offer for 7.875% Senior Notes Due 2017
ELMWOOD PARK, N.J.–(BUSINESS WIRE)– Sealed Air Corporation (“Sealed Air” or the “Company”) (NYS: SEE) today announced that the final tender period for the previously announced offer to purchase its outstanding 7.875% Senior Notes due 2017 (the “2017 Notes”), expired at 11:59 p.m., New York City time, on April 3, 2013 (the “Expiration Time“).
At the Expiration Time, $324.182 million principal amount of 2017 Notes, or 81.05% of the aggregate principal amount outstanding, had been validly tendered and not withdrawn. As part of the previously announced early tender, the Company purchased for cash, on March 21, 2013, $324.167 million of the tendered 2017 Notes. The complete terms and conditions of the tender offer were set forth in an Offer to Purchase and Consent Solicitation Statement that was sent to holders of the 2017 Notes.
Business
Sealed Air is a global leader in food safety and security, facility hygiene and product protection. With widely recognized and inventive brands such as Bubble Wrap® brand cushioning, Cryovac® brand food packaging solutions and DiverseyTM brand cleaning and hygiene solutions, Sealed Air offers efficient and sustainable solutions that create business value for customers, enhance the quality of life for consumers and provide a cleaner and healthier environment for future generations. Sealed Air generated revenue of approximately $7.6 billion in 2012, and has approximately 25,000 employees who serve customers in 175 countries.
Forward-Looking Statements
Company 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 the Company, which are based upon management’s current expectations and are subject to uncertainties, many of which are outside the Company’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 …read more
Source: FULL ARTICLE at DailyFinance
By Business Wirevia The Motley Fool
Filed under: Investing
IDC Enters into Global Strategic Alliance with Sealed Air
NEW YORK–(BUSINESS WIRE)– International Dispensing Corporation (IDC) (IDND), a leading food-and-beverage packaging innovator, announced today its strategic alliance with Sealed Air Corporation (NYS: SEE) to develop an ultra-high-speed aseptic filler for bag-in-box (BIB) products and to promote this new system throughout the world. A global leader in food safety, product protection, and facility hygiene, Sealed Air has a presence in 62 countries and serves customers in 175 countries, with over 25,000 employees and annual sales of approximately $7.6 billion in 2012.
The strategic alliance between IDC and Sealed Air has been instrumental in developing proprietary aseptic BIB filling equipment that is designed to fill at unprecedented speeds of up to four to five times faster than standard aseptic BIB fillers.
The ultra-high-speed filler was designed and manufactured for IDC and Sealed Air by Alfa Laval in Parma, Italy. In December 2012, it was installed at the Island Oasis low-acid manufacturing facility in Buffalo, New York. Besides being a source of potential new business for IDC and Sealed Air packaging materials, the location will be showcased as a demonstration facility for potential customers to view the filler in operation. IDC and Sealed Air anticipate global demand for the filler, especially from high volume aseptic producers who can capitalize on the operational advantages of a much higher output system.
While IDC‘s proprietary aseptic tap, The Answer®, was the inspiration for the development of the ultra-high-speed filler, the potential reach of the filler extends beyond ready-to-drink beverages to a wide array of BIB foodservice categories. Concentrates, coffee creamers, smoothie bases, cheese sauces, soups, stocks, salsas, syrups, and ketchup are a few of the products currently packaged in BIB. Virtually every beverage or ingredient dispensed from a machine at a cafeteria, restaurant, or stadium is delivered from a bag or pouch below the counter or in the back of the facility, and represents opportunity for the IDC–Sealed Air strategic alliance.
The ultra-high-speed filler creates an additional profit center for IDC, while also enhancing its ability to market The Answer® by offering a complete packaging solution.
“IDC‘s strategic alliance with Sealed Air is a milestone, and a major step toward establishing the bulk aseptic package as a mainstream format,” said Greg Abbott, founder and CEO of IDC. “The benefits that should accrue from a large-format aseptic package—lower cost per fluid ounce, less packaging material, lower carbon footprint—can now be realized on a mass scale for Sealed Air and IDC thanks to …read more
Source: FULL ARTICLE at DailyFinance
