Packaging

Greif, Inc. Acquires Vietnam Steel Drum Facility

Tuesday 06. May 2008 - On May 2, Greif, Inc. (NYSE:GEF)(NYSE:GEF.B) acquired Petro-Summit Mechanical Co Ltd., Vietnam, a subsidiary of Asian Steel Co. Singapore.

Located in Vung Tau Province, the facility manufactures 200-litre steel drums serving the Mekong hinterland, the main commercial area of Vietnam. It is Greif’s first plant in the country.

Greif Vietnam will be managed as part of the Greif South East Asia (SEA) business. Terms of the deal were not disclosed.