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Sealed Air Sells Foam Trays & Absorbent Pads Business

Company sells North American foam trays and absorbent pads business to NOVIPAX.

Sealed Air Corp. (NYSE: SEE), Elmwood Park, NJ, has completed the sale of its North American foam trays and absorbent pads business, with sales for 2014 of $214 million, to NOVIPAX, a portfolio company of Atlas Holdings LLC.

The sale includes Sealed Air’s manufacturing facilities in Paxinos and Reading, PA, Indianapolis, IN, Rockingham, NC and Grenada, MS.

“The decision to divest foam trays and absorbent pads is another step in how we Re-Imagine™ Sealed Air and our commitment to a disciplined approach to portfolio management,” said Jerome A. Peribere, president and CEO of Sealed Air.

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