Sealed Air Announces Price Increases for Its North American Product Care Products
This price adjustment is in response to increases in the cost of resin and other raw materials that are expected during 2017, and to address the rise in other input costs such as labor, utilities, freight, and supplies.
“We have taken significant actions across the Product Care business to
offset these cost increases over the past few years while maintaining
our commitment to providing the most innovative solutions to our
customers. In doing so we have mitigated the need for broad price
adjustments across our portfolio since 2014; however, market forces
require that we take action now to counter these inflationary increases,
including the recent rise in petroleum based input cost.” said
The four percent price increase will be applied to: NewAir I.B.® Film, Bubble Wrap® IB Film, Fill-Air® Inflatables Film, Instapak® Film & Dispenser Solution,Bubble Wrap® Air Cellular Packaging, Jiffy® & Jiffy® TuffGard ® Mailers, Cell-Aire® Packaging Foam, Korrvu® Suspension & Retention Packaging, PriorityWrap® materials, all shrink film product lines, and consumable paper for all paper systems.
Business
Website Information
We routinely post important information for investors on our website, www.sealedair.com,
in the "Investor Relations" 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 Investor Relations section of our website, in
addition to following our press releases,
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 “anticipates,” “believes,” “plan,”
“assumes,” “could,” “should,” “estimates,” “expects,” “intends,”
“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: the tax
benefits associated with the Settlement agreement (as defined in our
2015 Annual Report on Form 10-K), global economic and political
conditions, changes in our credit ratings, changes in raw material
pricing and availability, changes in energy costs, competitive
conditions, the success of the spin of the Diversey Care and related
hygiene business, the success of our restructuring activities, currency
translation and devaluation effects, the success of our financial
growth, profitability, cash generation and manufacturing strategies and
our cost reduction and productivity efforts, the success of new product
offerings, the effects of animal and food-related health issues,
pandemics, consumer preferences, environmental matters, 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
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Source:
Sealed Air Corporation
Investors:
Lori Chaitman, 201-712-7310
or
Media:
Ken
Aurichio, 917-693-5417