PTV

(NYSE: PTV)

Industry: Containers & Packaging
On the web: http://www.pactiv.com
Employees: 12,000

Pactiv Corporation was incorporated in the state of Delaware in 1965 under the name of Packaging Corporation of America, operating as a subsidiary of Tenneco Inc. In November 1995, the Company changed its name to Tenneco Packaging Inc. In November 1999, it was spun-off from Tenneco as an independent company, and changed its name to Pactiv Corporation. The Company's business operates 39 manufacturing facilities in North America and 1 in Germany. Pactiv has two operating segments: Consumer Products and Foodservice/Food Packaging. Pactiv manufactures, markets, and sells consumer products such as plastic storage bags for food and household items; plastic waste bags; aluminum cookware; and foam, pressed-paperboard, plastic, and molded-fiber tableware. These products are used by consumers in their homes and are sold through a variety of retailers, including supermarkets and mass merchandisers. The Company is a provider of packaging products to the foodservice, supermarket, restaurant, and food packaging markets. Its products are designed to protect food during distribution, aid retailers in merchandising food products, and help customers prepare and serve meals in their homes. Foodservice customers use its products to merchandise and sell food products on-premises and for takeout meals. Products include tableware items such as plates, bowls, and cups, and a line of takeout-service containers made from clear plastic, microwaveable plastic, foam, molded-fiber, paperboard, and aluminum. Food-packaging products for supermarkets include clear rigid-display packaging for produce, delicatessen, and bakery applications; microwaveable containers for prepared, ready-to-eat meals; and foam trays for meat and produce. The Company also manufactures plastic zipper closures for a variety of other packaging applications. Food-processor products include dual-ovenable paperboard containers, molded-fiber egg cartons, meat and poultry trays, and aluminum containers. Pactiv has a sales and marketing staff of approximately 400 people. Its consumer products are sold through a direct sales force and a national network of brokers and manufacturers representatives. It uses a direct sales force to sell to its foodservice and food-packaging customers. The principal raw materials Pactiv uses are plastic resins, aluminum, and paperboard. These raw materials are available from a variety of suppliers.

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