Sealed Air Corporation (Saddle Brook, N.J.) announced that it has completed the acquisition of Nelipak Holdings B.V. Based in the Netherlands, Nelipak designs and manufactures rigid packaging for medical, consumer and industrial applications. Nelipak's net sales in 2004 were approximately $50 million. Although terms of the acquisition were not disclosed, Sealed Air does not expect the transaction to be material to its consolidated financial position or operating results.
Commenting on the acquisition, William V. Hickey, Sealed Air's president and CEO, said, "We are pleased to build on our presence in medical packaging with the acquisition of Nelipak. We believe that medical packaging represents an attractive growth opportunity for Sealed Air's products and technology. This acquisition will enable us to expand our ability to meet the packaging needs of the global healthcare industry.
"Nelipak is a good fit with Sealed Air because of its solid long-term customer relationships, its technical approach to product development and its reputation for superior quality. This acquisition provides Sealed Air with a greater presence in the highly technical field of medical device packaging and is a complementary addition to both our existing medical packaging business for pharmaceutical solutions and our industrial packaging business."
Source: Sealed Air Corporation