(MENAFN- Khaleej Times) Sealed Air, a US-based company known for inventing famous brand Bubble Wrap, will now focus more on its three potential markets Middle East, Turkey and Asia.
The $8 billion company made a strategic acquisition in October 2011 by purchasing Diversey, a provider of commercial cleaning, sanitation and hygiene solutions, for $4 billion, which was part in cash and in shares for acquiring its operations globally. Diversey has operations in the UAE & Middle East and its regional office is based in Jebal Ali Free Zone.
"The 2012 has been the year of integration and these processes take up to three years. We are currently integrating Diversey into various businesses of Sealed Air to optimise the acquisition forward," Sealed Air Corporation president and chief operating officer Jerome A. Peribere told Khaleej Times during an interview.
Sealed Air has approximately 26,300 employees who serve customers in 175 countries. The Asia, Africa, Middle East and Turkey operations of Sealed Air are headquartered in Dubai.
Peribere, who took over the operations of the company in September 2012, said Sealed Air has division of food packaging and Diversey has business of food safety and that binds the company to provide innovative solution in protection in food and beverage sector.
"The integration of Diversey's expansive international footprint and strong orientation in developing regions further bolsters our reach and opportunities for growth and improved customer service levels in many of the fastest growing economies today," he said.
"Together our global supply chain produces best-in-class solutions that are delivered safely and on time worldwide, while optimising the effective use of our assets," said Peribere.
While Sealed Air may best be known for Bubble Wrap brand cushioning and other well known protective packaging products, the majority of its revenue comes from its food packaging business, mainly marketed under the Cryovac brand. These solutions include vacuum shrink bags, laminates and case ready solutions that extend the shelf life of fresh food.
Sealed Air also manufactures packaging for medical devices and fluids, equipment and film for shrink wrapping food and consumer products, and materials that improve performance in a variety of products ranging from wind turbines to toothpaste tubes.
"Diversey has a strong legacy here in hosipitality industry and enjoys a market share of 34 per cent. We continue to sustain this strong double-digit market share by providing sustainable solutions to hotels and restaurants by monitoring and educate our consumers to use less water and electricity."
"We are spending around $140 million on our research and development to provide best solutions in the industry. This definitely is huge amount, but productivity with sustainable solutions is what we offer," Peribere said.
Sealed Air's 2011 annual report states that with Diversey, they are focused on being a global leader in sustainable solutions that improve food safety and security, facility hygiene and product protection.
"The businesses will be focusing their attention and investments on a core growth strategy that emphasises sustaining current market footprint in North America, maintaining leadership positions in the EMEA markets, and accelerating growth in developing regions," it concluded.
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