Pactiv
From Wikipedia, the free encyclopedia
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| Type | Subsidiary |
|---|---|
| Industry | Consumer Packaged Goods, Packaging Solutions |
| Founded | November 1999 |
| Headquarters | Lake Forest, Illinois |
| Key people | Richard L. Wambold (CEO) |
| Products | Consumer products including waste bags, food-storage bags, and disposable tableware and cookware; Foodservice/Food Packaging products including foam, clear plastic, aluminum, pressed-paperboard, and molded fiber packaging |
| Revenue | $3.4 Billion US Dollars (2009) |
| Operating income | $579 Million US Dollars (2009) |
| Net income | $324 Million US Dollars (2009) |
| Employees | 12,000 |
| Parent | Reynolds Group Holdings |
| Website | www.pactiv.com |
Pactiv Corporation has two operating segments:
- Hefty Consumer Products manufactures and sells waste bags, food-storage bags, and disposable tableware and cookware in the consumer market, through grocery stores, mass merchandisers, drug stores, and discount chains. Hefty is a registered trademark of Pactiv Corporation.
- Foodservice/Food Packaging: Pactiv provides packaging products to the foodservice, supermarket, restaurant, and food packaging markets. These products are designed to protect food during distribution, aid retailers in merchandising food products, and help customers prepare and serve meals in their homes.
History [edit]
Pactiv 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 name was changed to Tenneco Packaging Inc. In November 1999, the corporation was spun off as an independent company, and named Pactiv Corporation.[1] Reynolds Packaging Group announced its acquisition of Pactiv in August 2010.
References [edit]
- ^ Berman, Dennis K.; Lattman, Peter (May 17, 2010). "Maker of Hefty Bags In Talks for Buyout". The Wall Street Journal. p. B1.
