Greif, Inc., Delaware, Ohio, recently conducted four transactions in its North American packaging business. The company has sold three box plants. The assets of its Toledo, Ohio, box plant are being sold to Welch Packaging, and the sheet plant business and assets in Roseville, Mich., are being sold to Aero Box LLC. Greif’s Louisville, Ky., business will be absorbed into its regional network, and the plant will be subsequently closed. Together, the plants employ 142. Greif has also sold the assets of its steel pail business in Greenville, Ohio, to Cleveland Steel Container Corp. Terms of the sales were not disclosed.

"In line with our business strategy, we have been in the process of fixing, selling or closing operations that do not perform to expectations,” says Mike Patton, president of Greif Packaging LLC. “For some time, we have been exploring every avenue to make our underperforming container plants profitable. Despite the best efforts of everyone involved, some operations cannot be fixed because a critical mass of customers has left the region. Our remaining box plant network is more than capable of meeting our customers' needs, and we remain committed to them.”

Patton notes that the company initiated these actions before the recent global economic events.