Sealed Air Corporation
Industry: Containers & Packaging

Founded in 1960 with the invention of Bubble Wrap® air cellular cushioning, Sealed Air has grown into a global company with more than $3 billion dollars in sales. Although our company is famous for Bubble Wrap cushioning, Sealed Air is much more. Today, Sealed Air is a leading global manufacturer of a wide range of fresh food, protective and specialty packaging products. Reaching nearly 80 percent of the world’s population, our products protect and preserve our customers’ most precious assets from the plant or warehouse through the rigors of the distribution chain. Many Sealed Air products are also designed to create an appealing presentation of our customers’ products in consumer markets.

Business Summary
Sealed Air Corporation manufactures and sells food and protective packaging products. The Company conducts all of its business through two direct wholly owned subsidiaries, Cryovac, Inc. and Sealed Air Corporation (US). Sealed Air Corporation operates in two segments: Food Packaging and Protective Packaging. The Company's food packaging products are flexible materials, associated packaging equipment systems, rigid containers and absorbent pads. These products package a range of perishable foods. The Company sells the products in this segment to food processors, distributors, supermarket retailers and food service businesses. The Company's protective packaging products provide cushioning, surface protection and void fill. It sells its protective packaging products and systems to distributors and manufacturers in a variety of industries.

Financial Summary
SEE is a global manufacturer of a wide range of protective and specialty packaging materials and systems, including polyurethane packaging systems and foams and air cellular cushioning materials. For the 6 months ended 6/30/05, net sales rose 8% to $1.99B. Net income fell 2% to $118.6M. Revenues reflect the favorable effect of currency translation. Net income was offset by a decrease in operating margins.