Sealed Air Corp. (NYSE: SEE) has purchased foam manufacturer Fagerdala Singapore Pte Ltd. for $100 million. The acquisition gives Sealed Air a stronger presence in Asia and is part of its strategy to expand globally.

Based in Singapore, Fagerdala makes packaged foam products that are used for wooden crates and pallets. The company, founded in 1983, has 14 manufacturing facilities across Asia and Norther America, and posted $80 million in sales in 2016. Fagerdala chairman Paul Yeo CT says the deal will allow the company to "respond even more rapidly to our customers globally."

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