Greif Announces Closure of Georgia Mill to Exit Coated Recycled Paperboard Market
Ohio-based packaging and industrial products firm Greif announced plans to close its Sweetwater paperboard mill in Austell, Georgia by the end of this year. The closure marks a full exit from the coated recycled board (CRB) market and will eliminate approximately 120,000 tons of annual production capacity while affecting around 95 employees. Greif stated it would provide severance benefits to impacted workers as part of its broader strategy to focus on businesses where it holds leading positions. The mill was acquired in 2019 with the purchase of Caraustar Industries but has struggled due to limited integration and competitiveness within Greif's network. The company plans to serve affected customers through other North American facilities, emphasizing strategic decisions aimed at strengthening its overall performance while redirecting capital toward profitable assets. This move is part of a larger optimization plan launched in December 2024 that aims for $120 million in cost reductions by the end of fiscal year 2027. The strategy includes workforce reduction and restructuring business units to enhance integration across operations, following previous closures on the West Coast and within Austell last year.
Topics: corporate restructuring CRB market exit employee layoffs plant closure