Sealed Air Corporation (Elmwood Park, N.J., www.sealedair.com) announced that it has expanded and realigned its segment reporting to reflect the company’s growth strategies both in core markets and in new business opportunities. This new structure reflects the way management now makes operating decisions and manages the growth and profitability of the business. As a result, the company will report business segment information for three reportable segments and an “other” category as follows: Food Packaging, Food Solutions, Protective Packaging and Other.
Commenting on the new reportable segments, William V. Hickey, president and CEO, said, “At Sealed Air, we are always looking ahead. Our segment reporting reflects evolving market trends, our organizational structure and our overall business strategy, which is focused on emphasizing opportunities for profitable growth. As a result, this new structure will provide our shareholders and the financial community with greater insight into our platform strategies and our growing capabilities.”
The expansion from two to three reportable segments and an “Other” category reflects new Food Packaging and Food Solutions segments, which were both previously reported in the company’s former Food Packaging segment.
The new Protective Packaging segment continues to include the aggregation of the Company’s protective packaging and shrink packaging products. The new “Other” category includes specialty materials, specialty foams and renewable products, which were previously included in the Protective and Food Packaging business segments, and medical applications, which were previously reported in the Food Packaging segment.
The new Protective Packaging segment includes core protective packaging technologies and solutions aimed at traditional industrial applications while increasing emphasis on consumer-oriented packaging solutions. Products are designed for such uses as cushioning, surface protection, void-fill, mailing and display and merchandising applications.