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Sealed Air Corp

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BUSINESS
July 28, 1998 | Bloomberg News
Sealed Air Corp., maker of protective packaging and inventor of plastic Bubble Wrap, said it plans to cut about 750 jobs, about 5.2% of its work force and take charges of $135 million to $145 million in the third quarter. The moves, expected to save $45 million a year, come after the company's purchase of W.R. Grace & Co.'s Cryovac food-packaging business in March. Sealed Air also said second-quarter pro forma earnings rose 4.
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BUSINESS
July 31, 2002 | Bloomberg News
W.R. Grace & Co. and Sealed Air Corp. lost a court ruling that might make it easier for people alleging asbestos injuries to prove the chemical maker fraudulently sold a food-packaging company to Sealed Air in 1998. A lawsuit against the companies alleges that Grace transferred its Cryovac division to Sealed Air in 1998 for $1.2 billion and stock in a move to shield assets from plaintiffs seeking payment for asbestos-related injuries.
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BUSINESS
July 31, 2002 | Bloomberg News
W.R. Grace & Co. and Sealed Air Corp. lost a court ruling that might make it easier for people alleging asbestos injuries to prove the chemical maker fraudulently sold a food-packaging company to Sealed Air in 1998. A lawsuit against the companies alleges that Grace transferred its Cryovac division to Sealed Air in 1998 for $1.2 billion and stock in a move to shield assets from plaintiffs seeking payment for asbestos-related injuries.
BUSINESS
July 28, 1998 | Bloomberg News
Sealed Air Corp., maker of protective packaging and inventor of plastic Bubble Wrap, said it plans to cut about 750 jobs, about 5.2% of its work force and take charges of $135 million to $145 million in the third quarter. The moves, expected to save $45 million a year, come after the company's purchase of W.R. Grace & Co.'s Cryovac food-packaging business in March. Sealed Air also said second-quarter pro forma earnings rose 4.
NATIONAL
June 14, 2008 | From Times Wire Reports
A packaging company that was sued after a Rhode Island nightclub burned down five years ago has agreed to pay $25 million to survivors and relatives of the 100 people killed. The settlement with Elmwood Park, N.J.-based Sealed Air Corp. is the latest in a series stemming from the February 2003 fire at The Station nightclub in West Warwick, which began when pyrotechnics used by the rock band Great White ignited flammable soundproofing on the club's walls. Victims' lawyers said the firm made foam used as soundproofing.
BUSINESS
August 15, 1997 | (Bloomberg News)
W.R. Grace agreed to spin off its specialty chemicals business and combine its packaging business with Sealed Air Corp.'s, in a transaction valued at $5 billion. Specialty chemicals company Grace will receive $1.9 billion in Sealed Air common stock based on Wednesday's closing share price of $47.63, $1.8 billion in convertible preferred shares and $1.2 billion in cash. Before combining the packaging business, Boca Raton, Fla.
BUSINESS
November 23, 2007 | From the Associated Press
It's the stuff many people find addictively fun to pop after opening a fragile package. But for a group of young inventors, bubble wrap is more than something to stomp on: It's a source of inspiration. To 11-year-old Kayla Weston, it's a building material that helps floors absorb shocks under dancers; 11-year-old Max Wallack used it to create wrist cushions for sufferers of carpal tunnel syndrome. "What's better than resting on air?" asked Max, who lives in Natick, Mass.
BUSINESS
November 15, 2004 | From Bloomberg News
W.R. Grace & Co., a maker of chemicals and building materials, filed a bankruptcy reorganization plan that would limit its asbestos-related debts to $1.61 billion and leave shareholder interests mostly intact. The 150-year-old company filed for bankruptcy in April 2001 to cope with more than 325,000 asbestos-injury lawsuits. It submitted the recovery plan Saturday to the U.S. Bankruptcy Court in Wilmington, Del.
BUSINESS
January 18, 2005 | From Bloomberg News
General Motors Corp., Pepsi Bottling Group Inc. and Pactiv Corp. are seeing profits eroded by the surging cost of plastics that are used in such things as automobile bumpers, beverage bottles and trash bags. The price of polyethylene, the world's most widely used plastic, surged 57% in 2004 and is the highest in more than a decade, boosting earnings for producers such as Dow Chemical Co. and Nova Chemicals Corp. Demand for plastic resins, a $51-billion business in the U.S., grew 8.
NEWS
June 28, 2001 | MELINDA FULMER, TIMES STAFF WRITER
The stuffed pepper entree from Huxtable's Kitchen is what most people would call fresh: It hasn't been frozen and the peppers are still firm, bright red and sweet in their package. But this meal could have been sitting on the supermarket shelf for close to a month.
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