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Stock Market & Financial Investment News

News Breaks
December 11, 2012
17:30 EDTGEFGreif provides outlook for FY13
"Factors impacting the global economy during FY12 are expected to continue into FY13. These include challenging market conditions driven by macroeconomic and political uncertainties. For FY13, we anticipate a slight increase in volumes compared with FY12 and margin improvement based on stable raw material costs, coupled with improved operating performance and full realization of the recent containerboard price increase. We anticipate that EBITDA will be between $450M-$500M for FY13. Additionally, net interest expense is anticipated to be below FY12, reflecting lower debt levels. Capital expenditures are expected to be between $140M-$150M for FY13. The book tax rate is expected to be between 31%-34% for FY13.
News For GEF From The Last 14 Days
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July 30, 2015
15:47 EDTGEFGreif temporarily ceases production at Massillon, Ohio facility
On July 27, at Greif Inc.’s paper mill facility in Massillon, Ohio, a portion of the roof collapsed during a torrential rain event, causing the facility to temporarily cease production. The collapsed roof was not directly above the facility’s main production equipment and the Company has not identified any damage to such equipment; however, repairs to the building, utilities and ancillary systems are required to restore operations. The Company does not anticipate any significant supply disruptions and is implementing plans to meet customers’ needs. Further, the Company does not currently expect this event to have a material adverse impact on its third quarter or annual financial results.The Company is working with its contractors and its insurance company to fully assess the damage and develop plans to effect repairs and resume production. The Company anticipates that the facility will be partially operational in the near future with full production operations resuming shortly thereafter.

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