Sealed Air Corp. plans to cut 750 jobs and combine or eliminate some small facilities and support functions.
The moves are part of a restructuring expected to slash annual operating costs by $45 million by the end of next year.
Spokesman Ryan Flanagan said it is too soon to say which plants will be combined or eliminated.
``Sealed Air has more than 90 locations around the world and it will not be a huge plant'' that will be closed, Flanagan said.
Sealed Air officials said the restructuring is necessary following the firm's purchase of W.R. Grace Co.'s Cryovac Division earlier this year. The combined companies, both leaders in protective and specialty packaging, could generate sales of $2 billion this year.
Sealed Air now employs 14,500. As part of the restructuring, it will take a charge of $135 million to $145 million to its third-quarter profit. Sealed Air also will record a special income-tax charge of about $23 million.
Sealed Air expects to centralize Cryovac's U.S. research facilities. All research and development, including work done in Columbia, Md., will be relocated to a large facility in Greenville, S.C.
Saddle Brook, N.J.-based Sealed Air plans to leverage Cryovac's presence in Latin America and Asia to accelerate growth there of protective packaging. Cryovac had a presence in 45 countries, Sealed Air in about 25. Cryovac's locations allow Sealed Air to get its products to new venues quickly.
Other goals include eliminating layers of management through all parts of the corporation, and reorganizing sales and marketing to add salespeople in the field.
``We've re-examined the entire business and have set up an operating plan and we are implementing it,'' Flanagan said. ``We expect to come out more focused on our customers and more competitive.''