Welcome to our dedicated page for Sealed Air Corporation news (Ticker: SEE), a resource for investors and traders seeking the latest updates and insights on Sealed Air Corporation 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.
SEE (NYSE: SEE) has announced a quarterly cash dividend of $0.20 per common share. The dividend will be payable on September 27, 2024 to stockholders of record at the close of business on September 13, 2024. This declaration by the Board of Directors demonstrates SEE's commitment to returning value to shareholders through regular dividend payments.
SEE has introduced multiple new sustainable packaging solutions aimed at reducing environmental impact while maintaining product integrity. These include CRYOVAC® brand recycle-ready barrier display films, which offer a 90% reduction in plastic weight and compatibility with LDPE recycling streams. The CRYOVAC® brand Darfresh® Systems reduce plastic usage by 25% and secondary packaging waste by 40%. The CRYOVAC® brand OptiDure Gen 2 barrier bag is thinner and extends product shelf life by 30%. Liquibox® VINIflow® taps and urn-liners use significantly less plastic and are designed for recyclability. The TempGuard gusseted bag helps avoid over 154 metric tons of landfill plastic waste. SEE is also converting ocean-bound plastic into packaging, maintaining performance standards. Finally, the Korrvu® digital manufacturing process and Recycle-Ready Mail Lite® cushioned paper mailers further reduce material use and improve recycling ease.
SEE (NYSE: SEE) announced it will release its second quarter 2024 results on Thursday, August 8, 2024, at approximately 7:00 a.m. (ET). The company will also host a conference call and webcast at 10:00 a.m. (ET) to discuss the results. The event will be available live on SEE's Investors homepage.
Sealed Air (SEE) announced the closing of a $400 million offering of 6.500% senior notes due 2032. The notes were sold at 100% of their principal amount and are guaranteed by SEE's wholly-owned domestic subsidiaries. The proceeds will be used to repurchase SEE's outstanding 5.500% senior notes due 2025 and to cover related costs. Any remaining funds will be used for general corporate purposes. The notes are offered only to qualified institutional buyers and non-U.S. persons under specific regulatory exemptions.
Sealed Air (SEE) announced the expiration and results of its cash tender offer for any and all of its 5.500% Senior Notes due 2025. The offer expired on June 24, 2024. As per Global Bondholder Services, $277.8 million of the notes, representing 69.45% of the outstanding principal, were validly tendered. An additional $160,000 of the notes were tendered through guaranteed delivery, subject to specific requirements. The total consideration for the tendered notes is $998.77 per $1,000 principal plus accrued interest until June 28, 2024, the expected settlement date. J.P. Morgan Securities acted as the exclusive dealer manager for the offer.
Sealed Air (SEE) announced the total consideration for its previously announced cash tender offer for any and all of its 5.500% Senior Notes due 2025. Each $1,000 principal amount of the Notes validly tendered and not withdrawn will be purchased for $998.77. The offer was determined by a fixed spread of 50 basis points plus a yield to maturity of 5.133%, based on the bid-side price of 2.875% due June 15, 2025. Additionally, accrued interest until June 28, 2024, the expected settlement date, will be paid. The offer expires on June 24, 2024, at 5:00 p.m. New York City time. J.P. Morgan Securities is acting as the exclusive Dealer Manager, and Global Bondholder Services is serving as the Depositary and Information Agent.
Sealed Air (SEE) announced the pricing of its 6.500% senior notes due 2032. The notes are guaranteed by SEE's existing and future wholly owned domestic subsidiaries. The net proceeds of approximately $396 million will be used to repurchase SEE's outstanding 5.500% senior notes due 2025 and for general corporate purposes. The offering is expected to close on June 28, 2024, subject to customary conditions. The new notes will be offered to qualified buyers under Rule 144A and to non-U.S. persons under Regulation S.
Sealed Air (SEE) announced an offering of senior notes due 2032. The notes, backed by SEE's subsidiaries, aim to repurchase outstanding 5.500% senior notes due 2025 and cover related expenses. Remaining proceeds will be used for general corporate purposes. The tender offer for 2025 Notes is contingent on the completion of the new notes offering, but the latter's closing isn't dependent on the tender offer. The notes will be offered only to qualified institutional buyers and non-U.S. persons under specific regulations. This press release isn't a sales offer or a tender offer for the 2025 Notes.
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.
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