Greif, Inc. Implementing Price Increases for Uncoated Recycled Paperboard and Containerboard

Greif, Inc. (NYSE: GEF, GEF.B) announced a price increase on select products effective March 4, 2021.

Rhea-AI Summary

Greif, Inc. (NYSE: GEF, GEF.B) announced a price increase on select products effective March 4, 2021. This includes a $50 per ton rise for uncoated recycled paperboard, $70 per ton for recycled and semi-chemical medium, and $60 per ton for recycled linerboard. The decision comes as a response to strong demand and rising production and transportation costs. Greif, a leader in industrial packaging, continues to strengthen its market position across over 40 countries.

Positive

• Implementation of price increases on select paperboard products could enhance revenue.
• Response to robust demand indicates strong market position.

Negative

• None.

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DELAWARE, Ohio, Feb. 2, 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 and containerboard products. A $50 per ton price increase for all grades of uncoated recycled paperboard (URB), a $70 per ton price increase on recycled and semi-chemical medium, and a $60 per ton increase on recycled linerboard will be effective with shipments on and after March 4, 2021. These price increases are in response to robust demand for our containerboard and paperboard products, as well as continued 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

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What are the new prices for Greif's paperboard products?

Greif is implementing a $50 per ton increase for uncoated recycled paperboard, $70 for recycled and semi-chemical medium, and $60 for recycled linerboard, effective March 4, 2021.

Why is Greif raising prices on its products?

The price increases are due to strong demand for containerboard and paperboard products, as well as ongoing cost pressures in production and transportation.

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

The price increase will take effect with shipments on and after March 4, 2021.