DELAWARE, Ohio (Oct. 15, 2014) - Greif (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, has been recognized with the 2014 IAIR Sustainability Award. The recognition cited Greif's long-standing commitment to developing innovations in industrial packaging and services that help global companies meet their measureable sustainability goals. IAIR organizers specifically cited Greif's advances in innovative material development and its DoubleGreen™ COEX 10L stackable jerry can, one of the first multilayer 10-liter plastic jerry cans made from renewable sugarcane.
"At Greif, we are focused on how sustainability drives innovation and improves outcomes for our customers. Companies are increasingly asking their supply chain partners to help them measure and reduce their environmental footprint, while protecting their products," said Eduardo Simoniello, vice president and general manager of Greif Latin America. "It's an honor to be recognized for developing industrial packaging that uses renewable plant materials. Our commitment to sustainable practices is long-standing and will continue to be at the forefront of Greif's culture of innovation."
The DoubleGreen COEX 10-liter jerry can incorporates green polyethylene that is derived from sugarcane ethanol and exceeds 50 percent of the total packaging composition. A Life Cycle Assessment (LCA) commissioned by Greif shows that the DoubleGreen COEX 10-liter jerry can is able to reduce CO2 emissions at a level of approximately 50 percent as compared to the traditional jerry can. Its stackable design eliminates the need for carton boxes for transportation, improves inventory management cost, removes the necessity for printing a duplicate label and optimizes the recycling process.
DoubleGreen is also UN certified, which means that Greif's customers will not need to worry about managing or paying for the UN Certification process themselves. The jerry can is produced by Greif in Brazil.
The IAIR Awards®-Excellence in Global Economy & Sustainability (www.iairawards.com) took place on Oct. 10, 2014 in Milan.
Greif is a world leader in industrial packaging products and services. The company produces steel, plastic, fibre, flexible, corrugated, multiwall and reconditioned containers, intermediate bulk containers, containerboard and packaging accessories, and provides blending, filling, packaging and industrial packaging reconditioning services for a wide range of industries. Greif also manages timber properties in North America. The company is strategically positioned in more than 50 countries to serve global as well as regional customers. Additional information is on the company's website at www.greif.com.
About IAIR and IAIR AWARDS
IAIR is a leading research institute and a global independent publisher, headquartered in Milan, Italy. IAIR AWARDS is one of the world's leading ranking and prize for excellences in global economy and sustainability.