Sealed Air CEO Addresses American Chamber Of Commerce On The Issues Of Food Safety, Waste And Access

Sealed Air (NYSE:SEE) Chief Executive Officer, William V. Hickey, addressed members of the American Chamber of Commerce in Shanghai on the issue of food safety and sustainability during a keynote speech on Monday, September 10, 2012. Hickey told attendees that as the global demand for food increases, there urgently needs to be a change of thinking and a sense of urgency to tackle the three most pressing issues facing the world’s food supply –– food safety, food waste and food access.

In his speech, Hickey said, “We are producing more than enough food to feed the planet, yet hundreds of millions of people are starving every day. We have made significant advances in technology and distribution, but food contamination is still a large societal problem with fatal consequences, regardless of wealth. And today we are more conscious of the impact our actions have on the environment, yet we throw away billions of tons of food a year that rots in landfills releasing methane gas into the atmosphere.”

Hickey included several statistics to highlight the growing issues of food safety, food waste and food access, including:
  • World Health Organization estimates that foodborne and waterborne diarrheal diseases together kill about 2.2 million people annually, 1.9 million of whom are children.
  • Nearly 40% of the food produced in the world is never eaten and its production consumes 300 million of barrels of oil per year. This food is responsible for one quarter of all freshwater consumption and represents $160 billion per year in cost.
  • Nearly one billion among the world’s seven billion people are hungry, yet according to the United Nations Food and Agricultural Organization, the world has never lived in a time when food has been in more abundance.

While recognizing the complexity of many of the issues he outlined, Hickey pointed out “that nearly every step in the food production and consumption chain affords the opportunity for business involvement and contribution. We must collectively bring all of our technologies and resources to bear so that everyone may eventually share in the freedom to feed themselves safely and adequately. And future generations can share in the preservation of our planet.”

A few examples where Hickey said collaboration could have immediate positive impact included:

  • A fair international trading system, because trade is vastly more powerful than aid.
  • Standardized means of collecting and analyzing data to better understand foodborne [See comment above.] illness and global standards for food safety and accountability
  • Health and Hygiene companies supporting more education, mentoring and training programs
  • Food companies and retailers improving nutrition through education programs, particularly for mothers of young children in Africa.
  • Packaging companies deploying systems to extend the available food supply to more effectively meet the needs of growing populations.

According to Hickey, “Sealed Air is committed to a path of innovation to help the world increase access to food, to keep it fresh, and make it safe and secure for all.”

SEALED AIR SOLUTIONS

Sealed Air’s business is focused on food safety & security, facility hygiene and product protection. Through its Diversey and Cryovac brands, Sealed Air delivers leading expertise in food science and microbiology. The Company creates solutions that protect and enhance the food and beverage supply chain ensuring products are processed, sold and prepared in a safe and efficient environment. For example:
  • At the manufacturing and food processing levels, Sealed Air provides solutions that reduce the risk of contamination, protect workers’ health, and reduce waste, such as yield loss of food.
  • At the retail level, Sealed Air is focused on both the front and the back of the store with solutions that extend the shelf life of food, provide value added merchandise appeal and convenience features, and create a healthy and clean environment by integrating cleaning chemicals, floor care equipment, cleaning tools, and a wide range of value-added services.
  • At the consumer level, Sealed Air focuses on reducing food waste in homes with solutions that provide portioning options that help addresses over-purchasing or over-preparation of perishable foods.

About Sealed Air

Sealed Air is a global leader in food safety and security, facility hygiene and product protection. With widely recognized and inventive brands such as Bubble Wrap® brand cushioning, Cryovac ® brand food packaging solutions and Diversey TM brand cleaning and hygiene solutions, Sealed Air offers efficient and sustainable solutions that create business value for customers, enhance the quality of life for consumers and provide a cleaner and healthier environment for future generations. On a pro forma basis, Sealed Air generated revenue of $8.1 billion in 2011, and has approximately 26,300 employees who serve customers in 175 countries. To learn more, visit www.sealedair.com.

Forward-Looking Statements

Company statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning our business, consolidated financial condition and results of operations. These statements include comments as to future events that may affect the Company, which are based upon management's current expectations and are subject to uncertainties, many of which are outside the Company's control. Forward-looking statements can be identified by such words as "anticipates," "expects," "believes," "plan," "could," "estimate," "will" and similar expressions. A variety of factors may cause actual results to differ materially from these expectations, including: economic conditions affecting packaging utilization; changes in raw material costs; currency translation effects; and legal proceedings. For more extensive information, see "Risk Factors" and "Cautionary Notice Regarding Forward-Looking Statements," which appear in our most recent Annual Report on Form 10-K, as may be revised and updated from time to time by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission. These reports are available on the Securities and Exchange Commission's website at www.sec.gov or our Investor Relations home page at http://ir.sealedair.com.

Copyright Business Wire 2010

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