Sealed Air Corporation announced its Reinvent SEE strategy to drive profitable growth and earnings power. SEE Operational Excellence will focus on the following key areas: speed to market for new innovations, SG&A productivity, product cost efficiency, channel optimization and customer service enhancements. The strategy focuses on four key initiatives: Speed to Market on Innovations: Invest in technology and resources focusing on new and existing high-growth markets. This will double Sealed Air's innovation rate over the next five years. SG&A Productivity: Simplify structure to create a more nimble and efficient organization. Product Cost Efficiency: Expand SEE Operational Excellence across entire company by upgrading end-to-end processes: innovate, buy, make and solve. Channel Optimization and Customer Service Enhancements: Leverage Sealed Air's extensive distribution network to drive market share in existing and adjacent markets. Click read more below for additional detail.
Total packaging papers & specialty packaging shipments in April increased five percent compared to April 2019. They were up three percent when compared to the same four months of 2019.
*The operating rate was 89.1 percent, up 1.4 points from April 2019 and down 1.3 points year-to-date.
*Mill inventories at the end of April decreased 1,000 short tons from the previous month, and were down 3,000 short tons compared to April 2019.