Share this article
Share this article
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 c