Greif Announces Strategic Actions

Core Points - Greif will permanently cease production at the Number 1 Paperboard Machine (A1) in Austell, GA, and close the containerboard and uncoated recycled paperboard (URB) mill in Fitchburg, MA due to increased costs and declining demand in key markets [1][2] - Approximately 140 positions will be impacted by these closures, with the A1 asset expected to cease production by the end of March 2025 and the Fitchburg mill by May 2025 [2][3] - The closures will reduce Greif's containerboard capacity by 100,000 tons and URB capacity by 90,000 tons, aiming to refine market participation and maximize profitability [2][3] Company Overview - Greif is a global leader in industrial packaging products and services, producing a variety of packaging solutions including steel, plastic, and fiber drums, as well as containerboard and specialty products [4] - The company operates over 250 facilities in 37 countries, employing more than 14,000 colleagues to serve both global and regional customers [4]