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 on all grades of uncoated recycled paperboard (URB) and coated recycled paperboard (CRB), effective immediately for new orders. This decision follows strong demand and ongoing cost pressures in production and transportation. The company aims to maintain its leadership position in the industrial packaging sector.

Positive

• Implemented immediate price increases on URB and CRB products, indicating strong market demand.
• Maintains leadership in the industrial packaging sector, which may enhance revenue.

Negative

• None.

News Market Reaction – GEF

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In the trading session that priced this news, GEF declined 0.93%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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DELAWARE, Ohio, March 18, 2021 /PRNewswire/ -- Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, announced today that it is implementing price increases on certain paperboard products, which are in addition to previously announced price increases. A $50 per ton price increase for all grades of uncoated recycled paperboard (URB) and a $50 per ton increase for all grades of coated recycled paperboard (CRB) are effective today with new orders placed. These price increases are in response to continued robust demand across the Greif paperboard network and ongoing cost pressures in production and transportation.

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 are the new prices for Greif's paperboard products?

Greif has announced a $50 per ton increase for all grades of uncoated recycled paperboard (URB) and coated recycled paperboard (CRB).

Why is Greif increasing prices on paperboard products?

The price increases are due to robust demand and ongoing cost pressures in production and transportation.

When did the price increase for Greif's products take effect?

The price increase became effective immediately for new orders placed on March 18, 2021.

Which company is increasing paperboard prices?

Greif, Inc. (NYSE: GEF, GEF.B) is increasing prices on its paperboard products.