DELAWARE, Ohio, April 30,
2021 /PRNewswire/ -- Greif, Inc. (NYSE: GEF, GEF.B), a
global leader in industrial packaging products and services, today
announced that it has completed its previously announced sale of
69,200 acres of timberlands in southwest Alabama to Weyerhaeuser Company (NYSE: WY) for
approximately $149 million in
cash.
Proceeds from the sale will be used for debt repayment and will
accelerate the transfer of Greif's enterprise value from debt to
equity holders in line with the Company's stated financial
priorities.
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.