Sealed Air Corporation buying Automated Packaging Systems

Sealed Air Corporation has signed a definitive agreement to acquire Streetsboro, Ohio-based Automated Packaging Systems, Inc. for $510 million on a cash and debt free basis. Operating seven manufacturing facilities in the US and UK, APS offers packaging equipment, sustainable materials and technical services. The transaction is expected to close in the third quarter of this year, subject to applicable regulatory reviews and customary closing conditions.