First Trade Date for Pactiv Corporation
| Company Name | First Trade Date (yyyy-mm-dd) |
| Pactiv Corporation | 1999-10-27 |
| Company Name | Symbol |
| Pactiv Corporation | PTV |
| History and Business of Company (this information may include date of incorporation) | |
|
Pactiv Corporation (Pactiv or the company) is a global supplier of specialty-packaging and consumer products with 2003 sales of $3.1 billion. The company operates 80 manufacturing facilities in 14 countries around the world. Pactiv has three key operating segments: Consumer Products, Foodservice/Food Packaging, and Protective and Flexible Packaging. The company's consumer products include plastic, aluminum, and paper-based products such as waste bags, food-storage bags, and disposable tableware and cookware. Pactiv's foodservice/food packaging products include foam, clear plastic, aluminum, pressed-paperboard, and molded-fibre packaging for customers in the food-distribution channel, including wholesalers, supermarkets, and packer processors, who prepare and process food for consumption. The company's protective-packaging products are generally used to protect and cushion various commercial and industrial products from the point of manufacture to the point of delivery or pick-up. Pactiv's flexible-packaging products are used mainly in food, medical, pharmaceutical, chemical, and hygienic applications, and often involve custom design. Pactiv was previously known as Tenneco Packaging Inc. and was formerly a wholly-owned subsidiary of Tenneco Inc. (Tenneco) that was spun-off to shareholders of Tenneco on November 4, 1999 (the "spin-off"). Pactiv includes the assets, liabilities, and operations of Tenneco's former specialty-packaging business and certain of Tenneco's former corporate and administrative-service operations. As used herein, the terms "Pactiv" and "the company" refer, for periods prior to the spin-off, to the packaging businesses and corporate and administrative-service operations of Tenneco and, for periods after the spin-off, to Pactiv and its consolidated subsidiaries. The company was incorporated in the state of Delaware in 1965 under the name of Packaging Corporation of America. The company changed its name to Tenneco Packaging Inc. in November 1995 and, concurrent with the spin-off, changed its name to Pactiv Corporation. | |
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