Acquisition Combining expertises
“TTS-Ciptec’s unique approach and complementary technology in patented sensing and algorithms bolsters our knowledge based services,” said Karl R. Deily, President of Sealed Air’s Food Care division. “Combined with Sealed Air’s expertise in data analytics and experience in the food and beverage industry, this acquisition enhances how we meet our customers’ sustainability needs by saving time, reducing product loss and water and energy consumption, and improving quality, hygiene and yield.”
TTS-Ciptec was founded in 1988 and is headquartered in Tampere, Finland. Its customer base is located primarily in Europe and Latin America.
Terms of the transaction were not disclosed. The transaction closed on 13 July 2016 and is not material to Sealed Air’s financial results.