Sealed Air Announces Price Increases for Its North American Food Care Products

Fourth Quarter 2021 Summary: *Strong top line growth across each segment resulted in reported sales up 9% and core sales (excluding currency effects and acquisitions) up 10% *Reported earnings per share increased 8% to $0.85 *Reported net income increased 8% to $58 million. Annual 2021 Summary: *Top line growth across each segment drove record annual sales of $3.2 billion *Reported sales grew 10% and core sales increased 7% *Reported net income totaled $244 million, exceeding 2019 pre-pandemic levels *Acquired Voluntis, a pioneer in digital therapeutics, and 80% of Weihai Hengyu Medical Products, a leading Chinese manufacturer of elastomeric and plastic components used in injectable drug delivery *Furthered our ESG performance and commitments resulting in the following recognitions: Newsweek’s Most Responsible Companies, Barron’s Most Sustainable Companies, Forbes’ Green Growth 50 list, Forbes’ Global Top 10 Female-Friendly Companies, JUST Capital’s Top 10 Companies Leading in Reducing Environmental Impact, EcoVadis Platinum and CDP’s Supplier Engagement Leaderboard *28th consecutive year of paying increased annual cash dividends

Packaging Corporation of America reported first quarter 2023 net income of $190 million, or $2.11 per share, and net income of $198 million, or $2.20 per share, excluding special items. First quarter net sales were $2.0 billion in 2023 and $2.1 billion in 2022. Reported earnings in the first quarter of 2023 include special items primarily for closure costs related to corrugated products facilities and design centers. Excluding special items, the ($.52) per share decrease in first quarter 2023 earnings compared to the first quarter of 2022 was driven primarily by lower volumes in the Packaging ($.95) and Paper ($.04) segments, higher operating costs ($.27), higher depreciation expense ($.11), higher freight and logistics expenses ($.04), higher non-operating pension expense ($.04), and higher converting costs ($.02).

Scholle IPN, a global leader in flexible packaging solutions, has announced today a major rebranding to reflect the company's focused efforts on sustainable packaging. Ross Bushnell, President and CEO of Scholle IPN, said of the rebranding initiative, "This is a really exciting time for the Scholle IPN business and for our team around the world. The opportunities are endless for sustainable, leading-edge solutions crafted around film, fitments, and equipment offerings. We believe that our brand should more accurately reflect those tremendous opportunities and we are excited to launch the new brand campaign at this time."