BATTLEBORO, NC and CHARLOTTE, NC - Sealed Air Corporation (NYSE: NYSE:SEE) and Ossid have announced a new global partnership aimed at providing case-ready processors with a comprehensive tray overwrapping solution. The collaboration integrates SEE's sustainable packaging materials with Ossid's packaging machinery expertise to enhance operational efficiency and sustainability for fresh protein producers.
Under the partnership, customers will have access to a complete tray overwrap solution that includes machinery from Ossid and trays and film from SEE. This initiative is designed to offer a streamlined process for customers, combining the strengths of both companies to recommend the most suitable packaging solutions for specific applications.
Jason Angel, Global Vice President of Sales and Business Development at ProMach, emphasized the benefits of the partnership, stating, "SEE and Ossid can specify all the equipment needed for specific tray overwrapping applications and do so in a streamlined process."
The partnership features the Ossid NextGen 500E, which is compatible with the CRYOVAC® brand compostable overwrap tray, touted as the market's first compostable tray designed to run on existing industrial food processing equipment. Ossid's 500E and 500im models are part of the solution, offering leak-resistant end seal overwrap packaging with a small footprint to maximize floor space.
Tobias Grasso, President of the Americas Region at SEE, expressed excitement about the partnership, highlighting the synergy between the two companies that will benefit customers.
Ossid is a leader in leak-resistant tray sealing and a distributor for Reepack, both part of ProMach, while SEE is a global provider of packaging solutions with sales of $5.5 billion in 2023.
This partnership is expected to deliver a sustainable total solution that combines equipment, materials, and services to meet the needs of fresh protein producers, aiming to create meaningful benefits for processors and consumers alike.
The announcement is based on a press release statement.
InvestingPro Insights
Sealed Air Corporation (NYSE: SEE) has been demonstrating strong financial prudence as reflected in the company's consistent share repurchase activity. This is one of the noteworthy InvestingPro Tips, indicating management's confidence in the company's value. Additionally, SEE's stock is known for its low price volatility, suggesting a stable investment for shareholders who prefer less market turbulence.
From a financial perspective, SEE's market capitalization stands at $4.58 billion, with a Price/Earnings (P/E) Ratio of 13.29, which adjusts to a more attractive 10.85 when considering the last twelve months as of Q4 2023. Moreover, the company has a Price/Book ratio of 8.34 for the same period, which, while on the higher side, can be justified by the company's profitability and consistent dividend payments over the past 19 years.
Investors looking for income-generating stocks may find SEE appealing due to its dividend yield of 2.54%, as of the latest data. The company's commitment to maintaining dividend payments underscores its financial health and dedication to returning value to its shareholders.
For those interested in further analysis and additional InvestingPro Tips, Sealed Air Corporation has an array of metrics and insights available on InvestingPro. There are a total of 5 additional tips listed, which can provide a deeper understanding of the company's performance and outlook. Prospective and current investors can utilize the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a more comprehensive investment analysis toolset.
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