Shares of Sealed Air Corp (NYSE:SEE) ended Friday session in green amid volatile trading. The shares closed up +0.30 points or 0.65% at $46.58 with 1.92 million shares getting traded. Post opening the session at $46.12, the shares hit an intraday low of $45.92 and an intraday high of $46.80 and the price vacillated in this range throughout the day. The company has a market cap of $9.18 billion and the numbers of outstanding shares have been calculated to be 196.70 million shares.
Sealed Air Corp (SEE) on July 14, 2016 announced that it has acquired Tampereen Teollsuussähkö Oy (TTS-Ciptec), a company that optimizes Cleaning in Place systems through remote monitoring capabilities and predictive analytics services for industrial use in brewing, beverage and dairy companies.
“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 July 13, 2016 and is not material to Sealed Air’s financial results.
Shares of Archer Daniels Midland Company (NYSE:ADM) ended Friday session in red amid volatile trading. The shares closed down -0.51 points or -1.19% at $42.47 with 1.88 million shares getting traded. Post opening the session at $42.76, the shares hit an intraday low of $42.47 and an intraday high of $42.93 and the price vacillated in this range throughout the day. The company has a market cap of $24.81 billion and the numbers of outstanding shares have been calculated to be 581.76 million shares.
On Sept. 23, 2016 Ginkgo Bioworks announced that it has signed an agreement with Archer Daniels Midland Company (ADM), one of the world’s largest agricultural processors and food ingredient providers, to develop custom strains of microorganisms that will be used to produce a key cultured ingredient.
“ADM’s expertise in ingredients and customization is unparalleled,” said Jason Kelly, co-founder and CEO of Ginkgo Bioworks. “With our bioengineering resources, we are excited to offer them a more affordable and sustainable way to produce these ingredients and continue to educate the market about what is possible.”
Ginkgo Bioworks is rapidly expanding to deliver designer organisms to customers across a range of industries, including cosmetics, nutrition, flavors, fragrances, insect control, AgBio, sweeteners and others. They recently closed a $100 Million C round of financing, which is enabling growth of their organism engineering foundries, where new strains are prototyped for customers. These strains produce cultured ingredients in a process similar to a microbrewery.
“As our customers work to develop new, unique products to meet consumer demand, they rely on ADM to provide innovative ingredient and formulation solutions throughout the process,” said Todd Werpy, Senior Vice President and Chief Technology Officer of ADM. “Partnerships with companies like Ginkgo Bioworks elevate our ability to be an ideal problem-solving partner for our customers, and we are excited about the possibilities this new agreement will create.”