Sales Soar at Sealed Air
• Sealed Air Corporation reported sales increased 70% to $1.92 billion in the first quarter due, in large part to the Diversey acquisition, which contributed a 66% increase in sales. The first quarter gain was also helped along by a modest increase in year-over-year results in North America and the Europe, Middle East and Africa (EMEA) region, and a 9% increase in developing regions, according to the company.
The Diversey segment reported a 2% decline in sales to $751 million. These sales results reflect an estimated 3% higher price and 2% lower volume primarily in North America and in EMEA, specifically in Europe, the company said. As part of its integration of Diversey, Sealed Air is undertaking a number of actions to integrate and realign its organization, further improve operating efficiencies and lower its overall cost structure to maximize cost synergies and better meet customers’ needs, the company said.
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