Greif, Inc. announced an agreement to sell 69,200 acres of timberlands in southwest Alabama to Weyerhaeuser Company for approximately $149 million in cash. Proceeds from the transaction will be applied to debt repayment. While this transaction is subject to tax, the Company has tax losses from other transactions which will substantially mitigate the tax associated with this land sale. Pete Watson, Greif’s President and Chief Executive Officer, commented, “We are pleased to enter into this agreement with Weyerhaeuser Company. Proceeds from the transaction will help to de-lever our balance sheet and accelerate the transfer of Greif’s enterprise value from debt to equity holders in line with our stated financial priorities.”

The packaging paper product from Koehler Paper provides ideal protection for “einpott” ready-to-eat meals thanks to its extraordinary oxygen, mineral oil, and grease barrier properties. pack&satt products are available in three flavors: “Tomate Linse” (lentils and tomato), “Curry Linse” (lentil curry), and “Rote Bete Kartoffel” (red beet and potato). pack&satt ready-to-eat meals were originally bottled in returnable jars. However, customer feedback, coupled with a general overhaul of the product, led the company to look for alternative packaging options: “Our customers frequently told us that if they had an electric kettle, that meant that they also had bowls or cups available, making the jars redundant. And on top of that, we found out that using paper instead of glass to hold dry product would improve our environmental footprint! Given all that, we were tremendously happy when we found Koehler and saw that they offered the right packaging material for our needs,” explains pack&satt founder Sophie Gnest.

Green Bay Packaging (GBP) is pleased to announce a substantial investment in the modernization of its Arkansas Kraft paper mill. This is a multi-year project which significantly enhances the infrastructure of the mill and underscores the company’s commitment to sustainable practices and operational efficiency. The investment will encompass vital replacements of key process components, including the recovery boiler and biomass boiler infrastructure. Additionally, GBP is set to install an electric turbine generator, an integral element of the decarbonization strategy that will substantially reduce Scope 1 and 2 greenhouse gas emissions. The project also includes the acquisition of approximately 300 acres of land for future investments and expansion, positioning the mill for the long-term.