Greif (GEFB) announced it will permanently cease production on the Number 1 Paperboard Machine in Austell, GA and permanently close the containerboard and uncoated recycled paperboard mill in Fitchburg, MA. In total, approximately 140 positions will be impacted. These actions will reduce the containerboard capacity of Greifs mill network by 100,000 tons, and URB capacity by 90,000 tons. The company expects to cease production on the A1 asset by the end of March 2025 and Fitchburg by May 2025.
CEO Ole Rosgaard said: "We are grateful to our colleagues in Austell and Fitchburg for their contributions to the company and are committed to helping them navigate next steps by providing severance benefits and outplacement assistance."
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.