Greif, Inc. Announces Delay in Filing 2014 Form 10-K
January 14 2015 - 6:30PM
Business Wire
Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial
packaging products and services, today announced that it has
delayed the filing of its Annual Report on Form 10-K for the fiscal
year ended October 31, 2014 beyond the January 14, 2015 extended
filing date. As previously reported in its Form 8-K filings, the
company engaged a new independent registered public accounting
firm, Deloitte & Touche LLP, during the fourth quarter of 2014.
In connection with the independent audit and financial statement
preparation process, management identified certain adjustments
which require immaterial revisions to the company’s financial
statements for prior periods. These adjustments relate primarily to
income tax accounting matters and, to a lesser extent, other
adjustments to operating items. The aggregate of these items
totaled approximately $24.5 million, net of income tax. In
addition, the company identified an adjustment related to the
elimination of intercompany sales in its Paper Packaging segment
which impacts the current and prior period financial statements,
and results in a reduction of sales and cost of sales ranging from
approximately $130-$140 million annually. The filing delay is
necessary to allow the company and its independent registered
public accounting firms additional time to finalize their
procedures for these prior period adjustments.
The company anticipates that these procedures will be complete
within the next week and that the company will file its Form 10-K
thereafter.
About Greif, Inc.
Greif is a world leader in industrial packaging products and
services. The company produces steel, plastic, fibre, flexible,
corrugated and reconditioned containers, intermediate bulk
containers, containerboard and packaging accessories, and provides
blending, filling, packaging and industrial packaging
reconditioning services for a wide range of industries. Greif also
manages timber properties in North America. The company is
strategically positioned in more than 50 countries to serve global
as well as regional customers. Additional information is on the
company's website at www.greif.com.
Greif, Inc.Media:Scott GriffinVice President, Corporate
Communications740-657-6516orAnalyst:Robert
Lentz614-876-2000
Greif (NYSE:GEF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Greif (NYSE:GEF)
Historical Stock Chart
From Jul 2023 to Jul 2024