Greif Packaging LLC Announces Major Capital Enhancements at Riverville, Va. Mill

Greif, Inc., a global leader in industrial packaging products and services, today announced that Greif Packaging LLC, a wholly owned subsidiary, plans to make significant improvements to its semi-chemical medium machine located at the in Riverville, Va. mill.

The company expects the $45 million modernization project, which includes enhancements to all sections of the machine, to improve product quality characteristics for customers, reduce costs and increase capacity. While the largest component of the two-year project is the addition of a shoe press, the machine will also undergo improvements with drive systems, winding and roll handling capabilities. Upon completion of this project, the company expects to reduce energy consumption mill-wide by another 10 percent and realize an 11 percent increase in production output.

"The modernization of our semi-chemical machine at Riverville represents a critical stage of our 'efficient frontier' strategy in the Virginia mill footprint and is aimed at reducing structural costs and expanding output at this important virgin asset within our portfolio," said Tim Bergwall, vice president, general manager of Paper Packaging, Greif, Inc. "The resulting product enhancements expected from these projects represent another step toward our goal of being the premier medium supplier to our customers."