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) announced a $50 per ton price increase for all grades of uncoated recycled paperboard (URB), effective for new orders and shipments starting July 26, 2021. This decision arises from ongoing cost pressures in production and transportation, alongside strong demand across the Greif paperboard network. As a global leader in industrial packaging, Greif produces a variety of containerboard and specialty products, serving clients in over 40 countries.

Positive

• Implementation of a $50 per ton price increase for all grades of uncoated recycled paperboard, indicating strong pricing power.
• Continued robust demand across the Greif paperboard network, suggesting a healthy market position.

Negative

• None.

DELAWARE, Ohio, June 23, 2021 /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 today with new orders and shipments on and after July 26, 2021. This price increase is in response to ongoing cost pressures in production and transportation and continued robust demand 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. 

Contacts:
Matt Eichmann
Office: 740–549–6067
Email: matt.eichmann@greif.com

 

 

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SOURCE Greif, Inc.

FAQ

What is the reason for Greif's price increase on uncoated recycled paperboard (URB)?

Greif's price increase of $50 per ton is due to ongoing cost pressures in production and transportation combined with strong demand.

When will the new prices for uncoated recycled paperboard (URB) take effect?

The new prices will be effective for orders and shipments on and after July 26, 2021.

What are the stock symbols for Greif, Inc.?

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