Greif Opens New IBC Facility in Malaysia

Total boxboard production in July decreased seven percent compared to July 2019. It was down two percent when compared to the same seven months of 2019. The boxboard operating rate was 90.4 percent, down 3.3 points from July 2019 and essentially flat (+0.3 pts.) year-to-date. Solid Bleached Boxboard production in July decreased 15 percent compared to July 2019. It was down five percent when compared to the same seven months of 2019. Recycled Boxboard production in July decreased seven percent compared to July 2019. It was down one percent when compared to the same seven months of 2019. Unbleached Kraft & Gypsum production in July increased two percent compared to July 2019. It was up one percent when compared to the same seven months of 2019.

Sealed Air Corporation announced a three-year partnership with Gastromotiva, a nonprofit organization based in Brazil that uses the power of gastronomy, food, and education to address social inequality, improve nutrition education, fight hunger, eliminate food waste, and create local jobs. Since 2006, Gastromotiva has served more than 500,000 meals, recovered more than 220,000 pounds of food and engaged more than 100,000 people worldwide in nutrition education. Sealed Air’s investment will empower Gastromotiva to achieve food security goals that align across three pillars: *Education: Sealed Air and Gastromotiva will co-create a global education module on sustainable packaging and food waste reduction for students to learn more about innovations that minimize food waste. *Workforce Development: Sealed Air and Gastromotiva will develop a system to connect low-income youth and other vulnerable populations with Gastromotiva partners for job opportunities and career development. *Expansion: Gastromotiva will standardize its educational methodology and develop an integrated educational platform for expansion to strategic locations in Brazil and Mexico, which will ensure vulnerable communities have access to the Gastromotiva network of NGOs and partners working to create a sustainable food system.

Net sales of $1.1 billion increased 10% on an as reported basis. Currency had a positive impact on total net sales of 4%, or $36 million. As reported, net sales increased across all regions. Net loss from continuing operations on an as reported basis was $208 million, or $(1.25) per diluted share, as compared to $54 million, or $(0.27) per diluted share, in the first quarter 2017. Net loss in the first quarter 2018 was unfavorably impacted by $293 million of special items, primarily related to $290 million of provisional tax expense for one-time tax on unrepatriated foreign earnings pursuant to the U.S. Tax Cuts and Jobs Act of 2017 ("TCJA"). Click Read More below for additional information.