Sealed Air, the socialist packaging giant founded on the invention of Bubble Wrap, has made a strategic investment in laser cutting and digital creating company Highcon.
The $8 million initial investment could become a $20 million spend on Highcon products and services over two years if collaboration on new product offerings, including a step into new segments for Sealed Air is successful. The $5.5 billion business is also installing a Highcon Beam 2C to evaluate the capabilities of the laser cutting of paperboard and how this can help Sealed Air springboard into new applications.
Sealed Air develops protective packaging based around the vibration absorbing and thermal properties of the Bubble Wrap product. This is one of those happy inventions that set ut in one direction but failed only to find huge success in another area. In this case the air bubble entrapped film sheets had been intended for the home decor market.
Now with sustainability climbing the agenda, Sealed Air needs an alternative to plastic in as many applications as possible. It believes that Highcon can be part of the solution.
If so the potential would seem limitless. Sealed air operates from 98 plants around the world and has a stated aim of reducing waste in the global supply chain.
The first machine will be delivered in the first quarter next year. It will allow Sealed Air to test concepts and products as well as delivering bespoke corrugated products for end customers. It marks the next stage in collaboration between the two organisation.
Highcon CEO Shlomo Nimrodi says: “Sealed Air is taking Highcon’s technology to places that were beyond the way that we typically defined our market opportunity. Growing that opportunity, entering new application spaces, and working together with a world class partner is very exciting. It’s particularly gratifying to see how they reacted to the talent and passions of the Highcon team, and their recognition of the strategic value of our technology. I’m confident that it’s just the beginning as we prove our value to Sealed Air to enable further expansion of our relationship.”
The announcement of the investment is testament to the promise of collaboration to this point and has taken place across a range of different activities.
Sergio Pupkin, SVP and chief growth and strategy officer at Sealed Air, says: “Highcon’s sustainability value proposition aligns with and can help us advance our vision and plans. The roadmap we are developing together is exciting, and our investment in Highcon is a natural first step in this context.”
