UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 5, 2003
SEALED AIR CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Delaware |
1-12139 |
65-0654331 |
||
| (State or Other | (Commission File Number) | (IRS Employer | ||
| Jurisdiction of Incorporation) | Identification No.) |
Park 80 East Saddle Brook, New Jersey |
07663-5291 |
|
| (Address of Principal Executive Offices) | (Zip Code) |
201-791-7600
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, If Changed Since Last Report)
Item 9. Regulation FD Disclosure.
The following are the texts of slides to be utilized by Sealed Air Corporation (the "Company") at the Lehman Brothers Industrial Select Conference on February 5, 2003. The complete slides with pictures, charts and graphs will be available for viewing on the Company's website at www.sealedair.com, for a limited time. Investors are invited to go to the Presentation & Calls button in the Investor Information section of the Company's website.
Slide 1:
Corporate Overview
Sealed
Air Corporation
Our Products Protect Your Products™
Slide 2:
Certain statements made by the Company in this presentation 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 most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as well as other factors, could cause actual results to differ materially from such statements.
Slide 3:
Sealed Air:
A Global Leader in Performance Solutions for Food, Protective and Specialty Packaging.
Slide 4:
Segment Revenue
2002 Sales ($MM)
Food — 61% — $1,958 Protective & Specialty — 39% — $1,246
Slide 5:
The Sealed Air Advantage
Powerful Brands with Global Reach — Protection, Preservation, Presentation Value-Based Selling Ingenuity, Expertise, Systems Operational Excellence Exciting Growth Initiatives |
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Slide 6:
Powerful Brands for Protection, Preservation, Presentation
Bubble Wrap® Cryovac® Instapak® Jiffy® |
Air Cellular Cushioning Vacuum Shrink Packaging Display Films Foam-in-place Cushioned & Durable Mailers |
Slide 7:
Global Reach
48 Countries +100 Mfg. Locations Reach 80% of World Population |
Slide 8:
2002 Global Sales
North America |
— 58 |
% |
|||
| Europe | — 26 | % | |||
| Latin America | — 7 | % | |||
| AU/NZ | — 6 | % | |||
| Asia | — 3 | % |
Slide 9:
The
Sealed Air Advantage:
Value-based Selling
Measurable Economic Benefits A complete solution with bottom-line benefits Started with Bubble Wrap® Efficiency, Labor-savings, Damage & Spoilage Reduction, Retail Appeal, Customer Satisfaction |
Slide 10:
The Sealed Air Advantage:
Ingenuity, Systems, Expertise
R&D Powerhouse — 2% of Sales on R&D; 2X's Industry Average — Approximately 2,500 Patents Worldwide Beyond Innovation>>Ingenuity Systems Solutions Expertise |
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Slide 11:
Proven History of Business Development
1960 - 2000
Bubble Wrap® Air Cellular Protective Mailers Surface Protection Foam-in-place Cushions PE Foam Absorbent Pads Padded & Durable Mailers Suspension/Retention Packaging Inflatable Void Fill Niche non-Barrier Food Packaging High Performance Food Packaging |
Slide 12:
The
Sealed Air Advantage:
Operational Excellence
Continuous Improvement — WCM — Do more with less — Faster, Simpler Processes Cash Flow — Employees act like owners EPS |
Slide 13:
Exciting Growth Initiatives . . .
Slide 14:
Case Ready Packaging
Slide 15:
Vertical Pouch Packaging
Slide 16:
Inflatable Packaging
Slide 17:
Emerging Opportunities
Cryovac® OS Films VPP > Retort & Bag-in-Box Instapak® Table Top Cryovac® NewGen Laminates Xenith™ Shrink Film |
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Slide 18:
Recent Financial Results
Slide 19:
4th
Quarter Results
Net Sales
Slide
20:
2002
Full Year Results
Net Sales
Slide 21:
4th
2002 Quarter Results
Diluted EPS
Slide 22:
2002
Results
Diluted EPS
Slide 23:
EBITDA
Slide 24:
4th
2002 Quarter Results
Liquidity
Slide 25:
Sealed Air Corporation
364-Day Global Revolver ANZ 3-Year Revolver US Receivable Securitization Eurobonds 5-Year Global Revolver Other Bank Debt US Senior Notes |
Slide 26:
Long-Term
Growth Drivers:
In Our Favor
Increasing global trade Increasing global living standards Demand for convenience Safety and Hygiene Increasing protein consumption Emergence of the Supermarket Source reduction; rigid to flexible |
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Slide 27:
The Sealed Air Advantage
Powerful Brands with Global Reach — Protection, Preservation, Presentation Value-Based Selling Ingenuity, Expertise, Systems Operational Excellence — Cash flow, WCM "More with less" Exciting Growth Initiatives Solid 2002 Results Long-term Trends in our Favor |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| SEALED AIR CORPORATION | |||
By: |
/s/ JEFFREY S. WARREN Name: Jeffrey S. Warren Title: Controller |
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Dated: February 5, 2003
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