Greif, Inc. Announces a $50 Per Ton Price Increase on All Uncoated Recycled Paperboard (URB) and Coated Recycled Paperboard (CRB) Grades

Rhea-AI Summary

Greif, Inc. (NYSE: GEF, GEF.B) announced a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) and coated recycled paperboard (CRB). This increase, effective June 6, 2022, is attributed to rising costs in transportation, energy, labor, and raw materials amid strong demand in the Greif paperboard network. The company continues to adapt to inflationary pressures while aiming to enhance its service offerings across over 35 countries.

Positive

• Implementation of a $50 price increase may enhance revenue amid rising costs.
• Continued strong demand for paperboard products supports growth prospects.

Negative

• Inflationary pressures in transportation and raw materials impact overall profitability.

DELAWARE, Ohio, May 5, 2022 /PRNewswire/ -- Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, announced today that it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) and coated recycled paperboard (CRB). The recycled paperboard increase is effective with new orders and shipments on and after June 6, 2022. These price increases are in response to inflationary cost increases in transportation, energy, labor, chemicals, maintenance, and other raw materials and continued strong demand across the Greif paperboard and converting network.

About Greif, Inc.

Greif is a global leader in industrial packaging products and services and is pursuing its vision: to be the best performing customer service company in the world. The Company produces steel, plastic and fiber drums, intermediate bulk containers, reconditioned containers, containerboard, uncoated recycled paperboard, coated recycled paperboard, tubes and cores and a diverse mix of specialty products. The Company also manufactures packaging accessories and provides filling, packaging, and other services for a wide range of industries. In addition, Greif manages timber properties in the southeastern United States. The Company is strategically positioned in over 35 countries to serve global as well as regional customers. Additional information is on the Company's website at www.greif.com.

Contact:

Matt Leahy
740-549-6158
matthew.leahy@greif.com

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SOURCE Greif, Inc.

FAQ

What is the recent price increase announced by Greif, Inc.?

Greif, Inc. announced a $50 per ton price increase for uncoated recycled paperboard and coated recycled paperboard.

When will the price increase for Greif's paperboard take effect?

The price increase will take effect on June 6, 2022.

What factors influenced Greif's decision to raise paperboard prices?

The increase is a response to inflationary cost increases in transportation, energy, labor, and raw materials.

What types of products are affected by Greif's price increase?

The price increase affects uncoated recycled paperboard (URB) and coated recycled paperboard (CRB) grades.

Which stock symbols does Greif, Inc. trade under?

Greif, Inc. trades under the stock symbols GEF and GEF.B.