Sealed Air expands operations through MGM acquisition

18:26 | 13/02/2019
Sealed Air Corporation (NYSE: SEE) has acquired the flexible packaging business of MGM, a privately-held company headquartered in Manila, the Philippines.
sealed air expands operations through mgm acquisition
Sealed Air has acquired MGM to expand its operations throughout the Asia-Pacific. Source: packagingnews.com.au

Sealed Air plans to leverage MGM’s expertise to expand its printing and lamination capabilities and better serve customers throughout the Asia-Pacific region.

Founded in 1982, MGM specialises in printing and laminating and provides flexible food packaging materials for the consumer packaged goods markets in Southeast Asia. The company also exports to and supports companies in Australia, Brunei Darussalam, and New Zealand.

“We are excited to have the talented team at MGM join us and improve our ability to deliver world-class innovations to the region’s rapidly growing food market,” said Karl Deily, president and chief commercial officer of Sealed Air. “This acquisition enables us to expand our capacity and footprint in Asia and aligns with our strategy to invest in high-growth geographies and markets.”

Sealed Air has been present in the Philippines for more than 20 years and employs more than 2,000 people in Asia. MGM employs 150 people.

The transaction is expected to close in April. The terms of the transaction were not disclosed and are not material to Sealed Air’s financial results.

Previously, in October 2018, Sealed Air Corporation announced a bold sustainability and plastics pledge to design and advance innovative packaging solutions to be 100 per cent recyclable or reusable by 2025. The company will accelerate its use of recycled materials, expand reuse models for packaging, and lead the collaboration with partners worldwide to ensure execution.

“At Sealed Air, we strive to leave our world, environment, and communities better than we found them by leading innovative efforts to create differentiated, sustainable solutions,” said Ted Doheny, Sealed Air President and CEO. “Our history of sustainability is strengthened through our new sustainability and plastics pledge and, as an industry leader, it is our responsibility to build a waste-free future, keep our oceans clean, and leave a lighter carbon footprint.”

In August 2018, Sealed Air acquired US-based AFP, a privately-held fabricator of foam, corrugated, moulded pulp, and wood packaging solutions.

AFP is engaged in providing custom-engineered protective packaging for retail, e-commerce, and direct shipping applications. It employs 260 people.

Earlier this month, Sealed Air has joined the Alliance to End Plastic Waste (AEPW), a new global organisation established to reduce plastic waste in the environment.

Sealed Air is a knowledge-based company focused on packaging solutions that help customers achieve their sustainability goals in the face of today’s biggest social and environmental challenges. This corporation enables a safer and less wasteful food supply chain, and protects valuable goods shipped around the world. Sealed Air generated $4.5 billion in sales in 2017 and has approximately 15,000 employees who serve customers in 122 countries.

By Tan Duong

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