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

Rhea-AI Summary

Greif, Inc. (NYSE: GEF, GEF.B) has announced a $50 per ton price increase for all grades of uncoated recycled paperboard (URB), effective from November 9, 2020. This decision is driven by rising costs in transportation, insurance, labor, and chemicals, alongside a shifting supply-demand balance within the company's paperboard network. Greif is a leader in industrial packaging solutions, producing a range of products across more than 40 countries.

Positive

• None.

Negative

• The price increase may indicate underlying cost pressures that could affect profitability.
• The rise in costs for transportation, insurance, labor, and chemicals may signal ongoing inflationary challenges.

DELAWARE, Ohio, Oct. 20, 2020 /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) effective with shipments on or after Monday, November 9th, 2020. This price increase is in response to cost pressures in transportation, insurance, labor, and chemicals and other direct materials, as well as the supply-demand balance across the Greif paperboard network.

About Greif, Inc.

Greif is a global leader in industrial packaging products and services and is pursuing its vision: In industrial packaging, be the best performing customer service company in the world. The Company produces steel, plastic and fibre drums, intermediate bulk containers, reconditioned containers, flexible products, 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 40 countries to serve global as well as regional customers. Additional information is on the Company's website at www.greif.com. 

Contact:

Matt Eichmann
740-549-6067
matt.eichmann@greif.com

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SOURCE Greif, Inc.

FAQ

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

The price increase is effective from November 9, 2020.

How much is the price increase for uncoated recycled paperboard by Greif, Inc.?

The price increase is $50 per ton for all grades of uncoated recycled paperboard.

What are the reasons for Greif, Inc.'s price increase on paperboard?

The price increase is due to rising costs in transportation, insurance, labor, chemicals, and supply-demand balance.

What company is implementing a price increase for uncoated recycled paperboard?

Greif, Inc. is implementing the price increase.

What is the stock symbol for Greif, Inc.?

The stock symbols for Greif, Inc. are GEF and GEF.B.