Schenectady County Announces New Lease, $2 Million Investment at Sealed Air

December 11, 2008

Schenectady, N.Y. – December 11, 2008 – Schenectady County’s Metroplex Development Authority today announced that Sealed Air Corporation has signed a new seven year lease at its 300,000 square foot facility at the Glenville Business and Technology Park. The new lease includes approximately $2 million in upgrades to the company’s Glenville Plant.

Susan E. Savage, Chair of the Schenectady County Legislature said, “Creating and maintaining job opportunities in Glenville and throughout Schenectady County remains our priority. We’re fortunate that Sealed Air will continue to be a part of our local economy.”

“We believe Glenville offers an ideal place for our employees to live and work and we are grateful for the assistance we have received from Schenectady County in helping us maintain our business in this region,” said Earl Booth, Supply Chain Coordinator for Sealed Air. “We have had operations in Schenectady County for more than 17 years and know the benefits of living, working and operating a business in Upstate New York.”

Sealed Air is a leading global innovator and manufacturer of a wide range of packaging materials and performance-based materials and equipment systems that serve an array of food, industrial, medical industries and consumer applications. The company meets the packaging needs of customers around the world through a network of 100 manufacturing plants and operations in 51 countries. Sealed Air is well known for its Bubble Wrap® brand cushioning and Cryovac® packaging technology.

Founded in 1960, Sealed Air is a leader in the development of lighter, more environmentally friendly packaging products. The Glenville plant produces foam molded packaging products. It employs 100 workers at the Glenville Business and Technology Park located right at Exit 26 of the NYS Thruway.

“We are very pleased that Sealed Air has committed to remain in Glenville,” said David M. Buicko, Chief Operating Officer of the Galesi Group. “We will continue to work with the County to make strategic investments in the Glenville Business and Technology Park so we can continue to attract new tenants and new jobs.”

The Glenville Sealed Air Plant is owned by the Galesi Group. The Galesi Group will invest approximately $2 million to upgrade the Glenville plant.

Metroplex will provide a $100,000 grant toward building upgrades.

Metroplex Chair and Commissioner of Economic Development and Planning in Schenectady County Ray Gillen said, “We are very pleased that Sealed Air has signed this new lease and that the company’s major production facility in Glenville will be upgraded.”

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