Good times for Greif

摘要

Greif, the world's largest producer of steel drums with a global market share of around 55 per cent, has announced record first quarter net sales of $943.8m, up 33 per cent on the $709.7m achieved 12 months ago. Over the same period, net income jumped from $24.8m to $41.4m. "Our strong first quarter operating results were driven by improved sales volumes, which benefited from the continuing global economic recovery in our rigid industrial packaging business, improved fundamentals in our paper packaging business, last year's acquisitions and disciplined execution of the Greif Business System," says chairman and CEO Michael J Gasser. "Cost pass-through mechanisms in our sales contracts helped to mitigate the impact of inflation in raw materials," he continues, adding that during the first quarter the company "continued to focus on integrating the businesses [it] acquired during 2010, including rapidly implementing the Greif Business System."