Sealed Air Announces Supply Agreement with Mullinix Packages for Solid Barrier Trays

Saddlebrook, New Jersey, UNITED STATES


SADDLE BROOK, N.J., Nov. 1, 2000 (PRIMEZONE) -- Sealed Air Corporation (NYSE:SEE) announced today that it has entered into a supply agreement with Mullinix Packages, Inc. of Fort Wayne, Indiana. Under the agreement, Mullinix will supply to Sealed Air solid plastic barrier trays that will be sold under its Cryovac brand name as part of Sealed Air's case ready packaging offering. Sealed Air expects to begin making these trays available to its customers during the fourth quarter of 2000. Sealed Air believes that this agreement enhances its position as a leader in case ready packaging. The transaction is not material to Sealed Air's operating results.

Commenting on the agreement, William V. Hickey, President and Chief Executive Officer stated, "The agreement with Mullinix will allow Sealed Air to expand our offering for the tray component of our case ready packaging to include solid plastic barrier trays in addition to our existing barrier foam trays. By combining the capabilities and proprietary knowledge of Mullinix and Sealed Air, we will enhance our ability to meet the needs of Sealed Air's customers by providing the total case ready packaging solution."

Sealed Air is a leading global manufacturer of a wide range of food, protective and specialty packaging materials and systems. To view the Company's latest financial news online via the World Wide Web, visit http://www.cfonews.com/see.1

Certain statements made by the Company in this press release are forward-looking statements. These statements include comments as to the Company's beliefs and expectations as to future events and trends affecting the Company's business. These forward-looking statements are based upon management's current expectations concerning future events and trends and are necessarily subject to uncertainties, many of which are outside the control of the Company. The factors stated under the heading "Forward-Looking Statements" in Management's Discussion and Analysis of Results of Operations and Financial Condition, which appears in the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2000, could cause actual results to differ materially from such statements.



        

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