Sealed Air To Establish New Global Headquarters In Charlotte, North Carolina

ELMWOOD PARK, N.J.--()--Sealed Air Corporation (NYSE:SEE) today announced that it is establishing a new global headquarters in Charlotte, North Carolina. The Company will relocate to a modern, state-of-the art, environmentally-sustainable campus that will become the headquarters for its divisions, research & development facilities, and corporate offices.

Within the next three years, Sealed Air anticipates approximately 1,300 jobs will be relocated to Charlotte from its current headquarters in Elmwood Park, New Jersey; and, all or part of its facilities in Saddle Brook, New Jersey; Danbury, Connecticut; Racine, Wisconsin; and, Duncan and Greenville, South Carolina. The Company will also relocate a small number of employees from other locations.

“We are confident Charlotte will provide a great environment for us to operate and grow our business moving forward. This move will contribute to a stronger, one-company culture that will enable greater collaboration, efficiencies, and better use of our investments in people and new technologies,” said Jerome A. Peribere, President and CEO of Sealed Air.

Sealed Air will continue to maintain manufacturing in its Saddle Brook and Danbury facilities, as well as certain operations in Duncan. The Company’s Simpsonville and Seneca, South Carolina sites will also continue their manufacturing operations.

“We considered numerous criteria in making our decision.” said Peribere. “We believe Charlotte’s many attributes, including its solid economy and its reputation for business friendliness, technology and innovation, make it an ideal place for our employees to live and work.”

“North Carolina’s business-friendly climate continues to attract corporate headquarters to the Charlotte region,” said North Carolina Governor Pat McCrory. “We welcome Sealed Air’s senior executive team, division and line managers and staff to the Queen City where they will find big city opportunity with a great quality of life.”

About Sealed Air

Sealed Air Corporation creates a world that feels, tastes and works better. In 2013, the Company generated revenue of approximately $7.7 billion by helping our customers achieve their sustainability goals in the face of today’s biggest social and environmental challenges. Our portfolio of widely recognized brands, including Cryovac® brand food packaging solutions, Bubble Wrap® brand cushioning and Diversey™ cleaning and hygiene solutions, ensures a safer and less wasteful food supply chain, protects valuable goods shipped around the world, and improves health through clean environments. Sealed Air has approximately 25,000 employees who serve customers in 175 countries. To learn more, visit www.sealedair.com.

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, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

Forward-Looking Statements

Statements in this press release may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 concerning our business, consolidated financial condition and results of operations. These statements include comments as to future events that may affect Sealed Air, which are based upon management’s current expectations and are subject to uncertainties, many of which are outside Sealed Air’s control. Forward-looking statements can be identified by such words as “anticipates,” “expects,” “believes,” “plan,” “could,” “estimate,” “will” and similar expressions. A variety of factors may cause actual results to differ materially from these expectations, including economic conditions affecting packaging utilization, changes in raw material costs, currency translation effects, and legal proceedings. For more extensive information, see “Risk Factors” and “Cautionary Notice Regarding Forward-Looking Statements,” which appear in our most recent Annual Report on Form 10-K, as may be revised and updated from time to time by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission. These reports are available on the Securities and Exchange Commission’s website at www.sec.gov or our Investor Relations home page at http://ir.sealedair.com. Information on Sealed Air’s website is not incorporated into, and does not form a part of, this press release. Sealed Air does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

Contacts

Sealed Air Corporation
Investor:
Lori Chaitman
201-703-4161
or
Media:
Ken Aurichio
201-703-4164

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Contacts

Sealed Air Corporation
Investor:
Lori Chaitman
201-703-4161
or
Media:
Ken Aurichio
201-703-4164