Sealed Air To Sell European Food Trays Business

(RTTNews) - Sealed Air Corp (SEE) on Thursday said it has agreed to a potential sale of its European food trays business to Faerch Plast A/S, a European food packaging solutions provider.

The deal will include Sealed Air's manufacturing facilities in Poole, UK and Bunol, Spain, and is contingent on customary closing conditions which are anticipated to occur in the fourth quarter 2015.

Sealed Air's European food trays businesses generated sales of about $71 million in fiscal year 2014.

This transaction follows the sale of the company's North American foam tray and pads business in April 2015.

Sealed Air provides food safety and security, facility hygiene, and product protection solutions.