Greif, Inc. Announces a $50 Per Ton Price Increase on All Uncoated Recycled Paperboard (URB) Grades and a minimum 6% Increase on Tube and Core and Protective Packaging Products

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 February 14, 2022. Additionally, there will be a minimum 6.0% hike on tube, core, and protective packaging products, effective from March 4, 2022. These increases are attributed to strong demand and inflationary cost pressures in energy, labor, transportation, and raw materials.

Positive

• Implementation of a $50 per ton price increase for uncoated recycled paperboard, effective February 14, 2022, indicating strong demand.
• A minimum 6.0% price increase on tube and core, and protective packaging products, effective March 4, 2022, reflecting market responsiveness.

Negative

• None.

DELAWARE, Ohio, Jan. 19, 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 a minimum 6.0 percent increase on all tube and core and protective packaging products. The uncoated recycled paperboard increase is effective with new orders and shipments on and after February 14, 2022. The tube and core and protective packaging products increase is effective with shipments on and after March 4, 2022. These price increases are in response to strong demand across the Greif paperboard and converting network and inflationary cost increases in energy, labor, transportation, maintenance, chemicals and other raw materials.

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 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

View original content to download multimedia:https://www.prnewswire.com/news-releases/greif-inc-announces-a-50-per-ton-price-increase-on-all-uncoated-recycled-paperboard-urb-grades-and-a-minimum-6-increase-on-tube-and-core-and-protective-packaging-products-301464121.html

SOURCE Greif, Inc.

FAQ

What is the recent price increase announced by Greif, Inc. for uncoated recycled paperboard?

Greif, Inc. announced a $50 per ton price increase for all grades of uncoated recycled paperboard, effective February 14, 2022.

When will the price increase for tube and core and protective packaging products take effect?

The price increase for tube and core and protective packaging products will take effect from March 4, 2022.

What is driving the price increases announced by Greif, Inc.?

The price increases are driven by strong demand and inflationary cost pressures in energy, labor, transportation, and raw materials.

What are the stock symbols for Greif, Inc.?

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