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In The News:

Sealed Air Reports $1.2 Billion Loss in Third Quarter

November 2, 2012
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Sealed Air Corp. (NYSE: SEE), Elmwood Park, NJ, reported third-quarter sales of $2 billion, including $1.9 million from continuing operations. Sales from continuing operations increased 52 percent over the same period a year ago.

The company reported a net loss of $1.2 billion for the period, compared with year-ago profit of $73.7 million.

For the first nine months of 2012, sales were $5.7 billion, up 58 percent in a year-over-year comparison. The manufacturer reported a net loss of $1.2 billion for the period, as compared to profit of $198.4 million a year ago.

Sealed Air also announced it had reached an agreement to sell Diversey G.K. (Diversey Japan) to The Carlyle Group for ¥30 billion (US$377 million). Results from this business were reported as discontinued operations in the third quarter results.

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