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Sealed Air Corp. (NYSE: SEE), Elmwood Park, NJ, reported sales for the second quarter of $1.1 billion, an increase of 3.1 percent year-over-year. Profit increased 77 percent to $87.8 million.
Food care division sales for the quarter were up 2.2 percent to $679.5 million and product care division sales were up 4.4 percent to $390.8 million.
Year-to-date sales were $2.1 billion, up 2.8 percent over the prior-year period. Profit decreased 119.3 percent to $44.6 million.
Sealed Air's sale of the Diversey segment to Bain Capital Private Equity is on track to close in September.