Company Operations and Segments - The company operates in over 35 countries, producing a comprehensive line of industrial packaging products, including steel, fiber, and plastic drums, with a focus on container life cycle management and logistics services[11] - The company operates in three reportable segments: Global Industrial Packaging, Paper Packaging & Services, and Land Management, with detailed financial information available in Note 13 of the consolidated financial statements[15] - The company operates in six segments, aggregated into three reportable segments: Global Industrial Packaging, Paper Packaging & Services, and Land Management[15] - The Global Industrial Packaging segment includes products such as steel, fiber, and plastic drums, serving industries like chemicals and food and beverage[16] - The Paper Packaging & Services segment produces containerboard and corrugated products, serving North American customers in various industries[17] - The company produces and sells coated and uncoated recycled paperboard, serving both industrial and consumer markets[17] Acquisitions and Growth Plans - The company announced a planned acquisition of Ipackchem Group SAS, a leader in high-performance plastic packaging, on October 31, 2023[14] - The company plans to acquire Ipackchem for a purchase price of $538.0 million, subject to certain adjustments and regulatory approvals[43] - The acquisition of Ipackchem is subject to risks including regulatory approvals and the ability to integrate the acquired business successfully[48] Employee and Workplace Initiatives - As of October 31, 2023, the company has approximately 12,000 full-time employees, with 58% located in North America and 17% female representation[38] - The company provides various wellness programs for employees, including health care insurances and mental health support, tailored to regional needs[33] - The company utilizes Greif University for employee training and development, enhancing leadership and customer service skills[37] - The company is focused on maintaining pay equity and fair compensation for its employees, monitoring pay equity data regularly[36] - The company aims to foster a diverse and inclusive work environment, with ongoing programs to support gender and ethnic diversity[36] - The company emphasizes diversity, equity, and inclusion, with ongoing programs to support gender and ethnic diversity within the workforce[34] Financial Performance and Cost Management - The company has closed higher-cost facilities and restructured operations, significantly improving cost competitiveness[22] - The company has closed higher-cost facilities and restructured operations over the past several years, significantly improving cost competitiveness[22] - The company does not anticipate any material capital expenditures related to environmental control in 2024[29] - The company has not experienced material adverse effects from raw material shortages, which have been managed through inter-facility shipments[23] Safety and Corporate Culture - The company has implemented a global safety program called LIFE, aimed at reducing at-risk situations and promoting a culture of safety across all facilities[32] - The company has implemented a safety program called LIFE to track incidents and improve workplace safety, promoting a culture of Zero Harm[32] - The company emphasizes a "Build to Last" strategy, focusing on creating thriving communities, delivering legendary customer service, and ensuring financial strength[31] - The company is focused on delivering legendary customer service as part of its "Build to Last" strategy, which includes creating thriving communities and ensuring financial strength[31]
Greif(GEF_B) - 2023 Q4 - Annual Report