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SEE and Koenig & Bauer Announce Strategic Partnership to Shape the Digital Future of Packaging

Companies will work together to expand the boundaries of printed packaging

CHARLOTTE, N.C., April 27, 2023--(BUSINESS WIRE)--Sealed Air (NYSE: SEE) and Koenig & Bauer AG (XETRA: SKB) announced they have signed a non-binding letter of intent to expand their strategic partnership for digital printing machines. The partnership aims to significantly improve packaging design capabilities by developing state-of-the art digital printing technology, equipment, and services. Solutions developed by SEE and Koenig & Bauer will scale and deliver digitally printed materials dramatically faster, enabling brand owners to promote products by connecting with consumers through a digitally enhanced package.

The Koenig & Bauer RotaJET-series of digital printing presses will feature SEE’s prismiq™ intellectual property, software and hardware. By accelerating the digitalization of printing platforms, both companies will drive expansion of their portfolio of solutions. The partnership will expand market opportunities for both companies and result in co-branded digital printing presses.

Launched last year, SEE’s prismiq™ solutions empower brand owners to increase speed to market with higher quality and more cost-effective designs. These solutions also power business performance, improve operational efficiency, and reach consumers through digital content connected to packaging.

"SEE is pleased to partner with Koenig & Bauer to enhance both of our digital transformations," said Ted Doheny, SEE President and CEO. "SEE’s prismiq™ technology will help Koenig & Bauer convert their printing platforms from analog to digital while Koenig & Bauer will help accelerate and improve the robustness and effectiveness of SEE’s digital solutions."

"We are proud to intensify our established partnership with SEE. It is a strong and effective catalyst for the further development of our digital printing strategy and digital product initiatives and enhances the strong position of our RotaJET-series of printers for further industrial success," said Dr. Andreas Plesske, CEO of Koenig & Bauer AG. "To strengthen our broad product portfolio of presses and software solutions for the printing and packaging markets, we have relied on successful cooperation agreements for many years. This unique collaboration with SEE will enable us to create enormous potential for technological progress and business development for both partners."

About SEE

Sealed Air (NYSE: SEE) is in business to protect, to solve critical packaging challenges, and to make our world better than we find it. Our automated packaging solutions promote a safer, more resilient, and less wasteful global food, fluids and liquids supply chain, enable e-commerce, and protect goods in transit from damage.

Our globally recognized solution brands include CRYOVAC® food packaging, LIQUIBOX® fluids and liquids systems, SEALED AIR® protective packaging, AUTOBAG® automated packaging systems, BUBBLE WRAP® packaging, SEE Automation™ and prismiq™ digital packaging and printing.

Our partnership with customers creates value through sustainable, automated, and digital packaging solutions, leveraging our industry-leading expertise in materials, automation systems, engineering and technology.

Our SEE Net-Positive Circular Ecosystem is leading the packaging industry in creating a more environmentally, socially, and economically sustainable future. We have pledged to design or advance 100% of our packaging materials to be recyclable or reusable by 2025, with a bolder goal to reach net-zero carbon emissions in our global operations by 2040. Our Global Impact Report highlights how we are shaping the future of the packaging industry. We are committed to a diverse workforce and a caring, inclusive culture through our 2025 Diversity, Equity and Inclusion pledge.

SEE generated $5.6 billion in sales in 2022 and has approximately 17,300 employees who serve customers in 120 countries/territories. To learn more, visit sealedair.com.

About Koenig & Bauer

Koenig & Bauer is a globally active printing press manufacturer with headquarters in Würzburg, Germany. It supplies machines and software solutions covering the entire printing, finishing and converting process, with a particular focus on packaging. Machines from Koenig & Bauer are capable of printing on practically all substrates – the portfolio ranges from banknotes to board, corrugated, film, metal and glass packaging, and includes book, display, coding, decor, magazine, advertising and newspaper printing. With a history extending back more than 200 years, Koenig & Bauer is the oldest printing press manufacturer in the world and is today at home in virtually all printing processes. Together, the group companies count a total of around 5,500 employees. Koenig & Bauer operates manufacturing plants at 11 locations in Europe, alongside a global sales and service network. The annual revenue in the 2022 financial year was around €1.2bn. Further information can be found at koenig-bauer.com

Website Information

We routinely post important information for investors on our website, sealedair.com, in the Investors section. We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 concerning our business, consolidated financial condition, results of operations and cash flows. Forward-looking statements are subject to risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially from these statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by such words as "anticipate," "believe," "plan," "assume," "could," "should," "estimate," "expect," "intend," "potential," "seek," "predict," "may," "will" and similar references to future periods. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, expectations regarding the results of restructuring and other programs, expectations regarding future impacts resulting from the Liquibox acquisition, anticipated levels of capital expenditures and expectations of the effect on our financial condition of claims, litigation, environmental costs, contingent liabilities and governmental and regulatory investigations and proceedings.

The following are important factors that we believe could cause actual results to differ materially from those in our forward-looking statements: global economic and political conditions, including recessionary and inflationary pressures, currency translation and devaluation effects, changes in raw material pricing and availability, competitive conditions, the success of new product offerings, failure to realize synergies and other financial benefits from the acquisition of Liquibox within the expected time frames, greater than expected costs or difficulties related to the integration of Liquibox, consumer preferences, the effects of animal and food-related health issues, the effects of epidemics or pandemics, including the Coronavirus Disease 2019, negative impacts related to the ongoing conflicts between Russia and Ukraine and related sanctions, export restrictions and other counteractions thereto, changes in energy costs, environmental matters, the success of our restructuring activities, the success of our merger, acquisition and equity investment strategies, the success of our financial growth, profitability, cash generation and manufacturing strategies and our cost reduction and productivity efforts, changes in our credit ratings, the tax benefit associated with the Settlement agreement (as defined in our 2022 Annual Report on Form 10-K), regulatory actions and legal matters and the other information referenced in the "Risk Factors" section appearing in our most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, and as revised and updated by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement made by us is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230427005173/en/

Contacts

SEE Contacts

Investors
Brian Sullivan
Brian.c.sullivan@sealedair.com
704.503.8841

Media
Christina Griffin
Christina.griffin@sealedair.com
704.430.5742