Sealed Air Purchases Dry Lube to Expand Technology and Sustainability Footprint
December 17 2015 - 4:30PM
Business Wire
Sealed Air Corporation (NYSE:SEE) announced it has acquired Dry
Lube Ltd. (DL) and its subsidiary Dry Lube Inc., a specialized,
water-free conveyor lubrication technology and service provider for
the food and beverage industry. Dry Lube’s technology enables
brewing, beverage and dairy companies to perform critical conveyor
belts lubrication without the use of water.
“The acquisition is aligned with our Change the Game strategy
and accelerates our time to market for sustainable, innovative
solutions,” said Karl R. Deily, President of Sealed Air’s Food Care
Division. “For the majority of beverage companies, 20 percent of
their water usage is related to lubrication and cleaning. Combined
with our existing expertise, Dry Lube enables us to further reduce
water usage and treatment costs, create cleaner and safer working
environments, and improve operational efficiencies.”
Dry Lube was established in 2005 and is headquartered in
Edinburgh, U.K. The company sells directly to customers in the
United States and Europe and through distribution to the rest of
the world.
Terms of the transaction were not disclosed. The acquisition
closed in early December and is not material to Sealed Air’s
financial results.
Business
Sealed Air Corporation creates a world that feels, tastes and
works better. In 2014, the Company generated revenue of
approximately $7.8 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, enables 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 24,000 employees who serve customers in 175
countries. To learn more, visit www.sealedair.com.
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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
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that may be accessed through, our website is not incorporated by
reference into, and is not a part of, this document.
Forward-Looking
Statements
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the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 concerning our business, consolidated
financial condition and results of operations. Forward-looking
statements are subject to risks and uncertainties, many of which
are outside our control, which could cause actual results to differ
materially from these statements. Therefore, you should not rely on
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following are important factors that we believe could cause actual
results to differ materially from those in our forward-looking
statements: the tax benefits associated with the Settlement
agreement (as defined in our 2014 Annual Report on Form 10-K),
global economic and political conditions, changes in our credit
ratings, changes in raw material pricing and availability, changes
in energy costs, competitive conditions, success of our
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generation and manufacturing strategies and our cost reduction and
productivity efforts, the effects of animal and food-related health
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future developments or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20151217006420/en/
Sealed Air CorporationInvestors:Lori Chaitman,
201-703-4161orMedia:Ken Aurichio, 201-703-4164
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