Benzinga | Nov 2, 2021 11:11AM EDT

SEE Reports Completion Of Sale Of Reflectix Unit To Affiliate Of Balcan Innovations, No Terms Disclosed

SEE (NYSE:SEE) today announced it has completed the sale of its Reflectix(r) business to an affiliate of Balcan Innovations.

Under SEE's ownership, Reflectix grew to become the largest brand of reflective insulation solutions serving construction, HVAC, and insulation applications for residential do-it-yourself and pro-channels. Reflectix's products are widely distributed in North America through more than 3,500 dealer, distributor and retail locations.

The transaction includes Reflectix manufacturing facilities in Markleville, Indiana, where they employ approximately 80 employees.

SEE's strategy is to become a world-class, digitally driven company automating sustainable packaging solutions. The divestiture of Reflectix is part of the company's strategic realignment of its business portfolio.