Greif to Close Flexible Products Plant in Saudi Arabia Equipment to be Reallocated to Other Facilities to Meet Key Customer Needs

Fecha: 2014-06-25

DELAWARE, Ohio (June 25, 2014) – Greif a world leader in industrial packaging products and services, announced today that it will cease operations at its Flexible Products & Services (FPS) plant in the Kingdom of Saudi Arabia by August 31 and reallocate equipment to other Greif FPS facilities.

Greif FPS was developed in 2010 as a joint venture between Greif and National Scientific Company Limited (NSC). This joint venture represents the leading integrated global network for FIBCs, technical textiles, shipping sacks, container liners, PackH2OTM and more.

“The Flexible Products and Services business is a strategic component to Greif’s overall business strategy,” said Dano Lister, Division President, Greif FPS. “As our business grows and diversifies, we carefully assess market dynamics and the existing and future needs of current and prospective customers. As part of this strategic assessment, we are taking steps to end operations at the plant in Saudi Arabia and shift those resources to other Greif FPS facilities. The decision to shift operations is part of a normal restructuring that will advance the joint venture’s long-term business goals and better serve our target markets and needs of strategic customers.”

The plant in Saudi Arabia represents a small portion of the joint venture’s overall fabric production capacity.

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