Sales: $2.9 billion (estimated) for I&I products. Corporate sales: $7.6 billion. Net loss: $1.4 billion.
Key Personnel: Jerome A. Peribere, president and chief executive officer; Robert Tatterson, chief technology officer.
Major Products: Cleaning and hygiene solutions and services that are used in commercial, institutional and industrial facilities.
New Products: Dicolube Sustain, Diverflow with Sure Link.
Comments: It’s been more than a year since Sealed Air entered the I&I market with the $4.3 billion acquisition of Diversey. In November, 2012 the company sold its Japanese business (Diversey Japan) to The Carlyle Group for $323 million. At the time of the announcement, Sealed Air said the sale would enable the company to focus on higher growth countries where the portfolio offers the greatest potential.
Toshiro Misumi was named president and chief executive officer of Diversey Japan. Following the acquisition, he said that the newly independent Diversey Japan, in cooperation with Carlyle, will have a dedicated organization specifically oriented toward the Japanese market, making it possible for the company to respond effectively to domestic customers’ needs, and to pursue the best-suited strategies for our local business.
“We will continue to collaborate closely with Sealed Air and Sealed Air’s Diversey business, drawing on our shared network to provide high-quality products and services to our customers,” he insisted.
In March, William Hickey retired as Sealed Air CEO and was replaced by Jerome Peribere, a former Dow Chemical executive. At Dow Chemical, Peribere led the integration of the Rohm and Haas acquisition, so analysts speculate that Peribere was brought in to improve the integration of Diversey as well.
That integration is well underway. In the past few months, Sealed Air has revamped its structure, replacing seven business segments with three new business divisions: food & beverage, institutional & laundry and protective packaging.
Last year, the company rolled out Dicolube Sustain, a track treatment system for the brewing and beverage industry that promises to keep lines clean while using 60% less water.
For the first quarter of 2013, institutional and laundry net sales increased less than 1% to $513 million. Corporate sales rose less than 1% to $1.8 billion.
Last month, Sealed Air named Robert Tatterson as chief technology officer. He joins Sealed Air from Brady Corporation where he was corporate VP-R&D and chief technology officer. At Brady, a publicly traded, diverse industrial products company, Dr. Tatterson was responsible for driving growth through new product and process innovations across all business units. He holds a Ph.D. and M.S., Chemical Engineering from The University of Michigan and a B.S., Chemical Engineering from Ohio State University.