Inflationary cost environment accelerates
demand for SEE™ Automation
SEE (NYSE: SEE) today announced that prices will increase an
additional 5% to 10% across all products effective September 15,
2021.
“Our price actions are a direct response to rising input costs
and the expectation that this highly inflationary environment will
continue. We are working relentlessly to deliver 'touchless'
automation and sustainable solutions to our customers that drive
significant productivity and savings against this disruptive supply
environment,” said Ted Doheny, SEE’s President and CEO.
About Sealed Air
SEE (NYSE: SEE) is in business to protect, to solve critical
packaging challenges, and to make our world better than we found
it. Our packaging technology, solutions, and 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™
Automation solutions.
SEE’s Operating Model, along with industry-leading experts in
materials, engineering, technology, and science are driving our
innovative solution systems to be more sustainable, automated, and
digitally connected.
SEE is leading the packaging industry to create a more
environmentally, socially, and economically sustainable future and
has pledged to design or advance 100% of its packaging materials to
be recyclable or reusable by 2025, and a bolder goal to reach
net-zero carbon emissions in its global operations by 2040.The
company is also committed to a diverse workforce and inclusive
culture through its 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.
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 “anticipate,” “believe,” “plan,”
“assume,” “could,” “should,” “estimate,” “expect,” “intend,”
“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:
global economic and political conditions, currency translation and
devaluation effects, changes in raw material pricing and
availability, competitive conditions, the success of new product
offerings, consumer preferences, the effects of animal and
food-related health issues, pandemics, changes in energy costs,
environmental matters, the success of our restructuring activities,
the success of our financial growth, profitability, cash generation
and manufacturing strategies and our cost reduction and
productivity efforts, changes in our credit ratings, the tax
benefit associated with the Settlement agreement (as defined in our
most recent Annual Report on Form 10-K), 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: https://www.businesswire.com/news/home/20210802005754/en/
Investor Relations Lori Chaitman
lori.chaitman@sealedair.com 516.458.4455 Media Christina
Griffin Christina.griffin@sealedair.com 704.430.5742
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