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Greif, Inc. Wins 2011 DuPont Award For Packaging Innovation

DELAWARE, Ohio, June 14, 2011 /PRNewswire/ -- Greif, Inc. (NYSE: GEF, GEF.B) was honored as a Gold winner in the 23rd DuPont Awards for Packaging Innovation. DuPont's is the industry's longest-running, independently judged global award program for packaging materials, technology and service innovation. The 2011 program focused on new developments, cost/waste reduction and improved sustainability.

"The Packaging Awards program is an opportunity to celebrate how collaborating throughout the value chain can bring cost-effective innovation to the market to help solve the big issues," said Shanna Moore, global director sustainable packaging, DuPont Packaging & Industrial Polymers. "The Agribusiness Virtuous Cycle with Greif's Cimplast operations in Brazil captures the spirit of innovation to resolve complex global challenges."

Cimplast produces plastic jerricans and bottles in Latin America. Through the "Agribusiness Virtuous Cycle," a full-cycle recycling system, multilayer plastic agrochemical bottle waste is diverted from landfills and remade it into high-value products.

Cimplast uses DuPontâ„¢ Fusabond®, a polymer compatibilizer, to turn the waste into automotive lubricant bottles, rigid pipes and other products. With this process, more than 150,000 tons of empty agrochemical plastic bottles have been collected since 2002, saving about 374,000 barrels of crude oil and more than 160,000 tons of CO2 equivalents.

"We are proud of Cimplast's work with DuPont and their considerable accomplishments on this mounting environmental challenge," said Mike Gasser, Greif chairman and CEO. "We fully endorse business-led innovation to create sustainable practices that will benefit society, the environment and our stakeholders as well as the future of our planet."

About Greif, Inc.

Greif is a world leader in industrial packaging products and services. The company produces steel, plastic, fibre, flexible, corrugated and multiwall containers and containerboard, and provides blending, filling and packaging services for a wide range of industries. Greif also manages timber properties in North America. The company is strategically positioned in more than 50 countries to serve global as well as regional customers. Additional information is on the company's website at www.greif.com.

SOURCE Greif, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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