Top industrial packaging firm to close Saudi plant
Ohio (US), June 26, 2014
Greif, a global leader in industrial packaging products and services, has announced plans to shut down its operations at Flexible Products & Services (FPS) plant in Saudi Arabia in August.
The company move comes following its decision to reallocate equipment to its other FPS facilities.
Greif is major producer of steel, plastic, fibre, flexible, corrugated, multiwall and reconditioned containers, intermediate bulk containers, containerboard and packaging accessories. Beisdes it also provides blending, filling, packaging and industrial packaging reconditioning services for a wide range of industries.
The plant in Saudi Arabia represents a small portion of the joint venture’s overall fabric production capacity, said the company in a statement.
Greif FPS was set up in 2010 as a joint venture between Greif and National Scientific Company Limited (NSC). The company represents the leading integrated global network for FIBCs, technical textiles, shipping sacks, container liners and PackH2O.
“The Flexible Products and Services business is a strategic component to Greif’s overall business strategy,” said
Dano Lister, the division president at Greif FPS, said: "As our business grows and diversifies, we carefully assess market dynamics and the existing and future needs of current and prospective customers. As part of this strategic assessment, we are taking steps to end operations at the plant in Saudi Arabia and shift those resources to other Greif FPS facilities."
"The decision to shift operations is part of a normal restructuring that will advance the joint venture’s long-term business goals and better serve our target markets and needs of strategic customers," he added.-TradeArabia News Service