Article: Greif Bros. Corporation Announces Completion Of Van Leer Industrial Acquisition.

Greif Closes Purchase of Van Leer Industrial for $555 Million

Acquisition Makes Greif the Global Leader In

Industrial Packaging Products and Shipping Solutions

DELAWARE, Ohio, March 2 /PRNewswire/ --

Greif Bros. Corporation (Nasdaq: GBCOA/GBCOB) today announced completion of its purchase of the Van Leer Industrial packaging division from Huhtamaki Van Leer Oyj of Espoo, Finland (HEX: HVL1V) for $555 million, which includes the assumption of debt and other obligations. Greif and Huhtamaki announced the signing of a definitive purchase agreement for Van Leer Industrial on October 30, 2000 and an amendment on January 26, 2001.

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