In a significant reorganisation, Sealed Air Corporation is to establish three business units in 2012. According to a report by Kathleen Lynn in the North Jersey Record, the institutional and laundry unit will consist of Diversey’s building care, laundry and infection-control solutions for business and health care users. It is expected to represent about 30 percent of Sealed Air revenue.
The packaging company best known for Bubble Wrap, said early this month it is reorganising the business as a result of its recent US$4.3 billion acquisition of the Wisconsin cleaning and hygiene company, Diversey Holdings Inc.
Sealed Air also announced that two Diversey executives will leave the company. They are Ed Lonergan, who was Diversey’s chief executive officer, and Norman Clubb, who was the company’s chief financial officer. Lonergan will stay for six months to help with the transition, and Clubb will retire by year’s end.
“We plan to organise Sealed Air into three business units focused on food safety and security, facility hygiene and product protection,” said William V. Hickey, Sealed Air’s president and CEO, in a statement.
The company is expected to establish the three business units in 2012: food and beverage, institutional and laundry and protective packaging.
Food and beverage will focus on food science and microbiology, and is expected to account for about 45 percent of company revenue.
The institutional and laundry unit will consist of Diversey’s building care, laundry and infection-control solutions for business and health care users. It is expected to represent about 30 percent of Sealed Air revenue.
The protective packaging division will combine Sealed Air’s legacy packaging and specialty materials business and represent about 20 percent of Sealed Air revenue.
The company will also establish a developing markets group and a small ‘other’ category that will include the medical applications business.