Greif, Inc. announced it has sold Delta Petroleum Company, Inc. (“Delta”), a North American filling and logistics services business, to PSC Group LLC, a North American leader in product handling, site logistics, railcar repair, and sustainability services for the petrochemical, refining, and marine industries. "We are happy to have worked with the PSC Group in a transaction that brings value to both parties," said Ole Rosgaard, President and Chief Executive Officer of Greif. "While Delta is a solid business that exemplifies our Legendary Customer Service mindset, it no longer aligns with our core growth strategy of expansion into resin-based industrial products serving higher-growth and less cyclical end markets. The transaction value reflects the quality of both the business and our people, and the funds from this sale will be used to accelerate our strategic vision.”

President and CEO’s review: Despite the increased uncertainty in the market, our financial performance in the first quarter of 2025 was in line with the previous year’s level. Customers and consumers turned more cautious during the quarter due to geopolitical events. During the quarter, net sales and adjusted EBIT remained at the previous year’s level. We continued to make progress on our efficiency program, compensating for the negative impact from a decrease in sales volumes. By the end of Q1, we have achieved a total of EUR 87 million in cost savings and these have been essential to compensate for cost inflation. Fiber Packaging delivered strong growth with continued margin improvement. Our focus on margin improvement in Flexible Packaging yielded improved results, although the uncertainty in the market impacted net sales. In Foodservice Packaging, the softened demand had a negative impact on performance. In North America, performance was impacted by timing of sales in retail tableware, with sales partially pulled from January to December, and a seasonally late Easter.

Sonoco announced it is implementing a $50/ton (USD/ST) increase on all domestic and export corrugating medium grades shipping from its Hartsville, S.C. paper mill. The prices are effective with shipments on and after November 2, 2020. According to Tim Davis, division vice president and general manager, Paper and Adhesives, U.S./Canada, Sonoco is responding to changes in market demand and extended order backlogs, in line with other North American containerboard producers.