(Aug. 28) Elmwood Park, N.J.-based Sealed Air Corp., maker of Cryovac films, is close to reaching terms on a deal for the packaging division of Montreal-based Alcan Inc., according to Reuters.

Alcan is being acquired by mining company Rio Tinto in a $38 billion takeover. It manufacturers packaging for the personal care, medical, pharmaceutical and food and beverage industries, including produce films.

Alcan’s Paris-based packaging division reportedly will fetch at least $4 billion.