We are pleased to announce that a subsidiary of Greif, Inc. (Greif) has acquired Fustiplast S.r.l. (Fustiplast) from the Cassina Packaging Group.

Established in 1947 and specialized in industrial packaging, Fustiplast has been operating in the world of plastic materials for more than 40 years. Fustiplast is the Italian leader in plastic industrial packaging, and has strengthened its international presence with two plants in Germany and one in Brazil, as well as through a network of sales agents and licensees in various countries.

After a period of intense cooperation the Customer Services of Belgium and the Netherlands are one! The Customer Service of both counties are now located in Vreeland, in the Netherlands. Therefore we hired 2 new French speaking employees. Now we can offer an even better service to our customers.

Vreeland, January 2011

Cost prices have risen significantly over the last period. The cost situation is worrying as we have seen transport prices gone up due to higher prices for fuel and labour. We also saw cost increases at energy and pallets. Prices of raw materials will go up as current developments already have an impact on the price level

Over the last months the price of kraftliner, the base material for the production of Fibre drums, has increased with more than 20% and is now on an all time high price level. The main reason is the shortage in supply and the increased conversion costs. The forecast is that the prices will increase further in the coming months. As a result of this we are forced to adapt our prices per November 1st in line with the increase of raw materials.