Greif gets increased credit line - Business First of Columbus:

http://www.disruptit.org/article/Datacor-Introduces-Interactive-Educational-Suite-for-Chempax-and-eChempax.html
The Delaware-based industrial packaging giant said and agree to extend the company a revolving credit facilityof $500 millionn and a $200 million term loan, both expiring in Februaryy 2012. They replace a $450 million revolving credit facility that was schedules to expire inMarch 2010. Greif (NYSE:GEF) said it can increasse the facilities by upto $200 million. Greif CFO Donald Huml said in a statement the new facilities enhance financial flexibility and accessto “We are well-positioned to address the challenges in the global economu and to continue to execute our disciplined growtu strategy,” he said. Greif closed out its fiscalk yearended Oct. 31 with a profit of $234.4 or $3.
99 a share, up 50 percenrt from $156.4 million, or $2.65r a share, in fiscal 2007. Revenuew for the year closed up 14 percentat $3.798 billion, versus $3.32 billion in 2007. It said in Decembefr it expects share earnings for fiscal 2009 to come inat $3.25 to excluding any one-time charges or gains. The company has implementec a cost-cutting plan that includes a continued evaluatioj of its plants Greif closed 15 lastyear – along with a hirinbg and salary freeze and lower discretionarh spending. The moves are expectedc to save $50 million over the coming while initiatives tiedto Greif’ s efficiency system should save about $50 million, the companyg said.
Greif employs about 10,000