Greiner Group Annual Report 2017 We Also Feel an Obligation to What Has Always Existed

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Greiner Group Annual Report 2017 We also feel an obligation to what has always existed

Key figures ACTUAL in EUR million, joint ventures prorated

2017 2016 Consolidated sales revenues 1,579 1,475 Cash flow 148 148 Investments 138 101 Employees 10,567 9,722 Sales per employee 0.15 0.15

Group structure

Greiner Holding AG Kremsmünster, AT Management Board: Axel Kühner, Hannes Moser

Greiner Packaging International GmbH Plastic packaging for food and consumer goods, technical parts Business Units: Packaging, Assistec Headquarters: Sattledt, AT/CEO: Manfred Stanek

Greiner Bio-One International GmbH Medical technology, diagnostics, life sciences Business Units: BioScience, Preanalytics, Mediscan Headquarters: Kremsmünster, AT/CEO: Rainer Perneker

Greiner Foam International GmbH Foam for comfort, sport and technical applications, aircraft seat cushions, boiler insulation, interior parts and sound insulation for cars Business Units: Eurofoam, Greiner Perfoam, Unifoam, Greiner MULTIfoam, Greiner aerospace, Greiner PURtec Headquarters: Kremsmünster, AT/CEO: Michael Schleiss

Greiner Extrusion Group GmbH Extrusion lines, tooling and plants Business Units: Windows & Doors, Building & Construction, Technical Profiles, Greiner Production Network Headquarters: Nußbach, AT/CEO: Gerhard Ohler

Contents 4 The Greiner Group 6 Management Board Foreword 8 Supervisory Board Foreword 10 Family Shareholders Foreword 12 150 Years Greiner Group 26 Plastics for Life 40 Management Report 48 Greiner Packaging International 56 Greiner Bio-One International 64 Greiner Foam International 72 Greiner Extrusion Group Greiner Group Annual Report 2017

The Greiner Group: Global success in four divisions

Founded in 1868 in Nürtin- gen, Germany, with its four operative divisions, Greiner Packaging International, Greiner Bio-One Inter- national, Greiner Foam International and Greiner Extrusion Group, today the Greiner Group numbers among the global leaders in the plastics and foam industry. The products of this worldwide concern are omnipresent in daily life whether as yoghurt cups on the breakfast table, cozy foam mattresses, car and aircraft seats, blood collection tubes in medical practices, or as part of plastic window frames. The group has also given a long-term commitment to Upper Austria as its business location through the commencement in 2017 of the enlargement of its headquarters in Krems- münster to form the Greiner Campus, a modern office and training center.

4 The Greiner Group

Greiner Packaging. Do the Innovation.

Greiner Packaging is one of the predominant manufacturers of plastic packaging in both the food and non-food sectors. The company is active worldwide via an efficient network of 34 locations, which employ a workforce of over 4,800.

Greiner Bio-One. Your Power for Health.

Greiner Bio-One is a global player in the field of medical technology and life science. With over 2,200 employees and 26 locations, Greiner Bio-One is a leading producer of quality products for laboratory requirements.

Greiner Foam International. Foam for Life.

Greiner Foam International is regarded as one of the world’s most successful manufacturers of special foams. With a network of 63 locations and more than 2,500 employees (joint ventures prorated), the company guarantees customer proximity, minimum delivery times and top quality.

Greiner Extrusion Group. Keeping you ahead in Extrusion.

Greiner Extrusion Group is the world’s leading supplier of extrusion lines, tooling and complete systems for profile extrusion. With eleven production and service locations, and over 800 employees, the Extrusion Group is ideally equipped for the international market.

Visualization of the Greiner Campus in Kremsmünster (Austria).

5 Greiner Group Annual Report 2017

The positive business development of past years continues

The Greiner Group can A thriving world economy does pioneer in our own industrial field again look back on a not only generate advantag- while simultaneously securing our successful financial year. es. Indeed, a positive mood in positive corporate development Moreover, not one but two the markets generally leads to in the long-term. premieres could be a sharp rise in material prices, celebrated in 2017, as for which cannot always be passed In 2018, the family-owned Greiner the first time both the on promptly and in their entire- Group will be 150-years-young! global workforce passed ty. Moreover, the global political A birthday that is the result of the 10,000 employee mark scene continues to be plagued by responsible business practice, and consolidated sales marked uncertainty with anxieties untiring endeavors across the revenues exceeded and protectionism in its wake. generations and at the same EUR 1.5 billion. time prudent financial manage- High raw material prices, ment. Moreover, we have also exchange rate volatility and drawn up ambitious growth and shifting customs and tax barriers investment plans for the future characterized some of our mar- with which we wish to attain a kets in 2017. Nonetheless, in spite lasting increase in corporate val- of these difficult preconditions, all ue. Accordingly, the constant aim four operating divisions acquitted of all our initiatives is the securing themselves well in this envi- and preservation of our autono- ronment. Indeed, consolidated my and independence. sales revenues rose to EUR 1.579 billion and employee numbers Since time immemorial, fami- increased to 10,567. ly values and the outstanding quality of the relationships with In the strategic triangle formed all stakeholders have shaped our by diversification, innovation and enterprise. Therefore, we would globalization, global ties, that like to express our gratitude to are also regional, enabled us to our entire workforce, which during achieve growth while reducing 2017 once again made a major the dependence upon individual contribution to positive devel- markets and branches. opment, as well as to our customers and partners for the trust As a revenue-oriented business demonstrated on a daily basis. concern, we are thus able to Last, but not least, our special steadily consolidate our market thanks go the Supervisory Board leadership, while at the same and our shareholders for the time not losing sight of our collaborative partnership. social, communal and ecological responsibilities. Furthermore, as far as sustainability is concerned, through our inter-group Plastics for Life strategy we wish to be a

6 Management Board Foreword

Axel Kühner Hannes Moser CEO CFO

7 Greiner Group Annual Report 2017

The Supervisory Board Erich Gebhardt, Chairman/Claus Peter Bernhardt, Deputy Chairman/Regine Hagen-Eck, Member Christoph Greiner, Member/Andreas Ludwig, Member/Gerald Schinagl, Member Dr. Tilman Schad, Member/Dr. René Wollert, Member/Georg Kofler, Employee Representative Maximilian Gressenbauer, Employee Representative/Ernst Zimmermann, Employee Representative/Markus Rohrauer, Employee Representative

8 Supervisory Board Foreword

Shaping sustainable future

A sustainable corporate orientation demands a healthy financial basis. It permits out of the box thinking and investments in Since it was launched 150 years opportunity and a driving force new ideas, innovations and ago, the Greiner Group has been for innovations, new technolog- markets. In 2017, the Greiner characterized by pioneering spirit ical developments and positive Group further consolidat- and resolute adherence to a change, and will also underpin ed its market leadership in strategy of sustainable growth. the success of the Greiner Group important business areas Within this context, globalization, in future. and thus once again innovation and diversification demonstrated the solidity represent the predominant suc- Our thanks and recognition go to of its foundations. cess factors and in future they will the more than 10,000 motivated also serve to secure and extend and dedicated Greiner Group market leadership. employees around the world for the outstanding work and sup- The success over one and a half port that they once again ren- centuries is attributable to the dered during the past financial owning family, customers, part- year. Our heartfelt gratitude also ners, employees and the Greiner goes to the Greiner Group Board Group Board of Management. It of Management for the construc- should also serve as an incentive tive cooperation and consistent to continue to consider the future implementation of corporate intensively and push ahead with strategy. internationalization and diversification through systematic expansion in strong growth markets. In this regard, sustainable action represents both a major

Erich Gebhardt Chairman of the Supervisory Board

9 Greiner Group Annual Report 2017

150 years of innovation and tradition

In 2018, the Greiner Group celebrates 150 years as a family-owned enterprise. Those that think in terms of generations, think differently. Therefore, What began in 1868 in it was and is entrepreneurial courage, a clear value-orientation and Nürtingen, Germany, with family solidarity that form the foundation of our success. As the owning the foundation of a small family, we assume responsibility in a social, ecological and econom- general store by Carl Albert ic regard. Moreover, we ensure that 150 years of continual growth Greiner and his wife Emilie, remains secure, endeavor to play an active role in the shaping of is now a leading global strategic orientation and further unify the value landscape of both the concern in the plastics and family and our undertaking. foam industry with over 10,000 employees at 139 Today, some fifty persons possess Greiner Group shares and the entire locations in 33 countries. family consisting of marital partners, children and existing and future shareholders comprises well over a hundred members. A large part of the family meets several times a year for plant visits, the Annual Gen- eral Meeting, or joint activities. The Board of Family Shareholders unites all the interests of the owners, which it represents with regard to both the Supervisory and the Management Board.

150 years of innovation and tradition are worthy of celebration. How- ever, they also oblige us to express our thanks and recognition to our employees, customers, partners and suppliers. They all represent part of the foundations of our success and have helped to build up our group to what it is today, a widely diversified global player with over 10,000 personnel.

The Board of Family Shareholders

Peter Greiner Christoph Greiner Barbara Mechtler-Habig

Dominik Greiner Claus Bernhardt

10 Family Shareholders Foreword

11 Greiner Group Annual Report 2017

150 years Greiner Group: Entrepreneurial masterpieces in cork and plastic

When the corks pop in celebration of Greiner’s 150th birthday, this will be very much in the spirit of Carl Albert Greiner, who in the second half of the 19th century literally began their production with his bare hands at his general store in southern Germany. Today, the Greiner Group is a global leader in the plastics and foam industry with over 10,000 employees on virtually every continent and is active in business areas, which the founder could not have imagined even in his wildest dreams.

Family Greiner, the first and second generation. 150 Years Greiner Group Greiner Group Annual Report 2017

1868 to 1890 Cork production in the general store

14 150 Years Greiner Group

The trained retail merchant Carl As early as the following year, son Albert Greiner was born in 1841 Theodor Carl came into the world in the district town of Nürtingen in the family apartment over the near Stuttgart in Germany and shop and his father found peace founded what has subsequently and quiet with a hobby, that as become the global Greiner com- from the winter of 1873 became pany. In addition to entrepre- an after work routine. This was neurial conscientiousness, he also the manual crafting of corks, possessed virtues that included which he used as a stopper for ambition, a readiness to take the soda water that was also calculated risks and a creative home made in Neckarstrasse 10. inventiveness in tandem with However, Carl Albert Greiner an understanding of everything would not have been a business- technical. Carl Albert Greiner man had he not thought about was also perfectly matched how to simplify and accelerate by his resolute and industrious the laborious and time-con- wife, Emilie Friederike, who bore suming cork production process. the appropriate maiden name Accordingly in 1875 he built a Heinzelmann (Heinzelmann = an cork-cutting machine for which industrious elf). he received a patent in 1876, the year in which his son Hermann A few weeks before his marriage Albert was born. to Emilie in June 1868, Greiner purchased a house in Nürtin- Word quickly spread amongst gen with the address Neckar- the local business community strasse 10. He therewith not only that thanks to his new produc- farsightedly created space for tion process, Greiner could offer his sons, who would be born favorably priced and precisely during the following years and cut cork stoppers. As a result, a inherit from their father in every growing number of colleagues, regard, but also the first Greiner initially from the region and sub- business premises. These opened sequently from across Germany, their doors at the end of October ordered corks for beer, cider, wine 1868 as a general store selling and liqueur bottles. Pharmacists “Specereiwaren, Taback und also started to seal their bottles Cigarren, Farb-Waaren & Firnisse, with corks from the Neckarstrasse Bau- und Möbelbeschläge, and steadily the general store Drahtstifte, Schrauben und turned into a sideline, which was Bandeisen” (Spices, tobacco and eventually sold off by Carl Albert cigars, dyes & varnishes, house Greiner in order to be able to and furniture fittings, brads, concentrate on his most profit- screws and iron strip). able business venture; corks.

Emilie and Carl Albert Greiner.

15 Greiner Group Annual Report 2017

The Schafferlmühle in Kremsmünster (Austria), the foundation stone of today’s group headquarters.

The second generation, Theodor, Reinhold, Adolf and Hermann Greiner.

16 150 Years Greiner Group

1890 to 1950 Out into the wide world

Working with the material cork ster and on 6 April 1899 signed a cork obtained from the local oak thus became Greiner’s core busi- purchase agreement in the pres- forests. Adolf Greiner managed ness activity and the sons of the ence of the local savings bank the business and thus ensured founder proceeded to expand and thereby laid the foundation that a sufficient share of pro- it greatly. Apart from Theodor stone of the group headquarters duction was dispatched to both and Hermann, these now con- of today. Nürtingen und Kremsmünster . sisted of Adolf Julius (b. 1879) and Reinhold Wilhelm (b. 1881), and as The modifications to the mill test- Years later, Greiner came into the the oldest of the quartet, Theo- ed Carl Albert Greiner’s patience possession of a second branch in dor, staked out the path to the to the full; as for him everything San Feliu, as in spite of the diffi- future for the others. The route progressed far too slowly. In a cult wartime economic situation, led out into the great, wide world letter to his son Theodor from in 1916 the respected Viennese and aged just twenty, Theodor 1 May, he complains that: “The cork manufacturer, R. Pecher, was gathered foreign and business people work (...) ponderously, taken over and like Greiner, this experience in Odessa. He then although this also has to do with company also had a foothold on traveled to Portugal, Spain, Sicily the construction of the building, Spanish soil with an office in San and North Africa as a cork buyer as with these thick walls breaking Feliu. Reinhold Greiner became in order to secure supplies for the out a window and then replacing the new head of Pecher. production in Nürtingen. it takes half an eternity. I start to feel checkmate when I see that In 1921, Greiner first left European In 1897, Theodor Greiner also man- all the driving and chasing on shores with Adolf Greiner’s foun- aged to avoid the high import fails to help.” However, neverthe- dation of the C.A. Greiner é hijos duties of the Habsburg monar- less the day was to arrive when in Santiago de Chile. In addition, chy by opening a branch in the cork production could com- during 1922 Greiner expanded Empire. He selected Upper Austria mence in Kremsmünster. on the Iberian Peninsula with a as a location and on 1 May leased branch in Faro, Portugal and, as a scythe smithy in Micheldorf, The availability of cork was the early as 1924, the leased facto- where from 1898 onwards, his number one priority for produc- ry already employed more than brother Hermann headed the cork tion in both southern Germany thirty workers. In the 1930s, Greiner production. However, the premis- and Upper Austria. And therefore, also maintained an office in Paris, es were anything but suitable for in order to gain independence so to speak half way between expansion and therefore father from the wholesalers, the two Faro and Nürtingen, and a busi- Carl Albert started to search for plants founded a joint subsidiary ness card that has survived from an alternative with its own hydro- in San Feliu on the Spanish Costa the period names an address in power plant. He stumbled upon Brava, which at the time was the the city’s 13th district. the Schafferlmühle in Kremsmün- main port of exportation for the

17 Greiner Group Annual Report 2017

1950 to 1970 The economic miracle: A dream with foam

A foam warehouse in Nürtingen (Germany).

18 150 Years Greiner Group

Happily, bottle stoppers were In 1959, this move was cement- not the only useful cork prod- ed by a major investment at the uct and for many years inner Austrian plant in polyether foam, soles and supports made from which was made up into ready to pressed material also belonged install cushion sections for furni- to the Greiner portfolio. Moreover, ture. The works quickly became while attempting to use foam for the leader in the Austrian foam these products, in the early 1950s market and in addition also main Greiner opened up a new busi- tained excellent business ties ness area. With the purchase of with the state-run economies in a foam machine and the receipt Czechoslovakia, Hungary, Poland, of a license from Bayer AG, from Romania, Bulgaria and Yugoslavia. 1953 onwards Greiner emerged as a successful foam manufac- In 1960, Kremsmünster added turer. The first Moltopren foam injection molding to its foam pro- came onto the market with the duction and initially, as in Nürtin- designation “F” for fine and “30” gen handle caps were manufac- for a grammage of 30 kg /m 3. tured. However, in 1962 production Among the customers for this was switched to the manufacture product were the upholstered of polystyrene containers such furniture, mattress, textile and as cups, cans and boxes for the automotive industries. foods industry complete with polyethylene lids. Thin-walled There were also new develop- cups from in-house deep draw- ments in the bottle stopper seg- ing production followed and with ment such as the arrival of the these Greiner revolutionized the first screw caps made from pure Austrian packaging market for plastic and in 1953, Greiner also dairy products. Above all, Greiner switched to the new injection wrote history with its plastic cups molding process. The Nürtingen for yoghurt. plant bought a new Batten- feld injection molding machine, When in the 1960s the pharma which not only manufactured ceuticals industry switched caps using thermoplastic, but from boxes and tins for tablets also tablet boxes and cans for to so-called blister packaging, the pharmaceutical industry. some injection molding producers Moreover, the related recycling of got into sales difficulties, but this the sprue waste into packaging was not the case at Greiner in material can be seen as a pio- Nürtingen. There, one had long neering act in the recycling field. begun to specialize in the special needs of laboratory technology Spurred on by the successes in and amongst the best-selling Nürtingen, in 1954 the works in products were disposable Petri Kremsmünster also turned to dishes and microtiter plates with foam production and started 96 wells for laboratory analyses. to manufacture polyester foam, Greiner established an excellent which among other applications reputation and this resulted in a was used in brassieres, petti- rapid increase in the demand for coats, casings and insulation. laboratory items from Nürtingen.

A trade fair booth with Greiner products.

19 Greiner Group Annual Report 2017

1970 to 1990 Greiner: A major investor on own account

By the beginning of the 1970s, during test runs in the summer plastic cups had become the of 1973. Alone the installation of standard packaging for yoghurt the new plant in the newly built in Austria. Injection molding Foam Hall 4 took a year, but with production in Kremsmünster was the blessing given by suffragan thus working at full capacity and bishop Wagner during the festive there was no room for addition- start-up in the autumn of 1973, all al machines. Therefore, Greiner good things truly came to those created the required space by who had waited. In addition, the building two new injection mold- continuing plastics and foam ing halls in which in 1973 and 1975 boom presented Greiner with the respectively, roughly a hundred opportunity to invest further in its In the 1970s, the plastic cup became injection molding machines went machine park. standard packaging. into in high-speed operation. Developments at the parent Moreover, as if this major invest- plant in Nürtingen, which was ment were not enough, Greiner bursting at the seams, were also updated and expanded similar. In the summer of 1973 it its foam production in Krems- moved its foam make-up activ- münster. The old foam machine ities to nearby Ebersbach and in gave way for the most modern 1980 these were followed by foam system in Europe, which per- production, which also received formed entirely convincingly a brand new plant. Laboratory

20 150 Years Greiner Group

In the 1980s, Greiner Laboratory Tech- Technology gratefully took over nology achieved major success with the free halls in Nürtingen and the VACUETTE® blood collection system. purchased its first large machine system form Husky in order to keep pace with the demand for Petri dishes. After a planning and construction phase lasting several years, finally in 1987, Laboratory Technology also left Nürtingen and occupied a new plant in Frickenhausen, where in 1988, Greiner opened one of the most modern injection molding production facilities in Europe.

In the 1980s, Greiner Laboratory Technology achieved its next major success with the launch of the VACUETTE® blood collection system, which had been developed in Kremsmünster. The VACUETTE® consists of an unbreakable plastic tube with a safety cap and is not only simple and safe to use, but also mini- mizes the danger of infection to medical staff. Moreover, as the immunodeficiency syndrome AIDS had started to spread, a safe collection system for hospi- Upgrading in the extrusion area. tals, practices and laboratories arrived at just the right time. At the beginning of the 1990s, Greiner occupied a new Labo- ratory Technology plant with an annual production capacity of 120 million blood collection tubes, as well as a billion pipette tips and analyzers.

In the preceding years, Greiner had added an additional source of income in the plastics extrusion segment through a double company takeover in Austria. In 1980, the window frame and tooling manufacturer Aus- tro-Plast in Wartberg an der Krems became part of Greiner and was followed in 1985 by the tooling and machine producer Uniplast in Nußbach.

In 1988, Greiner opened one of Europe’s most modern injection molding facilities in Frickenhausen (Germany).

21 Greiner Group Annual Report 2017

1990 to 2010 Heading for the East, West and everywhere

Thousands of tonnes of foam are processed in the new recycling plant in Linz (Austria).

The Greiner subsidiary in Mosonmagyaróvár (Hungary).

22 With the takeover of the Swiss packaging company, Sandherr Packungen AG, Greiner inducted a specialist for K3® products into the group.

With a new recycling plant in In 1992, Greiner came to an facility in the USA and Monroe Linz, in 1990 Greiner kick started agreement with colleagues from in the east coast state of North the recycling loop with thou- the Recticel Group that joint Carolina was the recipient of this sands upon thousands of tonnes expansion in Eastern Europe in the twelve million dollar investment. of recycling foam. This versatile foam sector should be continued The plant initially manufactured material was converted into a via a foam-chemicals holding the VACUETTE® blood collection wealth of products that includes administered in partnership. In system prior to subsequently new mats, insulation, flooring and 1993, this resulted in the illustrious adding the production of micro- shoe parts and in 1991 Greiner name Eurofoam and the con- plates and master blocks for the in Austria was able to proudly tinuation of Greiner success with US market. report that in the course of cup numerous acquisitions, participa- recycling, 45 tonnes of recyclate tions and new foundations. In 2003, Greiner Bio-One launched were collected monthly. a sales office in the Brazilian fed- During 1999, Greiner opened eral state of São Paulo and after Following the collapse of the a production plant for food only two years, this was upgrad- Iron Curtain, Greiner was one of packaging in Sibiu in Romania, in ed to a production location with the first Austrian companies to the direct vicinity of the already two VACUETTE® and one gel expand successfully in Eastern operative Eurofoam foam plant. plants. Moreover, in 2008, Greiner Europe. The group had enjoyed This process was repeated in the Bio‑One opened a further plant in good trading relations in the same year in Tabasalu, a suburb Amata Nakorn, Thailand. region for over twenty years and of the Estonian capital Tallinn. with partners old and new, Grein- Furthermore, in 1998 the Polish er now entered into a long list of packaging manufacturer, which joint ventures and participations since 2000 has operated under in the reform states in both the the name Greiner Opakowania, packaging and the foam areas. moved from Raszyn to Teresin. Greiner Extrusionstechnik was During 1989, Greiner Műanyag- also on an expansion course technika in Hungary was integrat- having settled in the Czech ed into the group as a new sub- Republic and Poland in 1993 sidiary and in 1997 was followed before moving far further east in by Greiner Csomagolástechnika. 2002 with a branch in Shanghai. Furthermore, in 1991 an investment was taken in the foam manufac- Out of respect for the increasing turer Poran. number of its international trading partners, in 2000 Greiner said In the Czech Republic, a plas- farewell to the “Laboratory Tech- tics plant was started up in 1992 nology” designation and since under the name Greiner Plastove then the company has operated Obaly and was then supple- as Greiner Bio-One. As a clarion mented by the BPP foam make- call, the new company started up company in Brno. by building a new production

23 Greiner Group Annual Report 2017

Greiner Packaging in Pittston (USA).

Unifoam in South Africa is the first Greiner company on African soil.

Greiner Packaging in Pittston (USA) manufactures top-quality K3® cups for the American market.

24 150 Years Greiner Group

Since 2010 Plastics for Life

At the end of the 2000s, a unit was established for all the the USA there is also a growing change of historical dimensions companies in the group wishing awareness of the essential value took place at the top of the to undertake an involvement in of first class foods in correspond- company, as with Axel Kühner China. As a result, none of them ingly safe packaging. (2009) and Hannes Moser (2011) need start from scratch and for the first time responsibility for through the Corporate Center As a global player, the Greiner Greiner passed into the hands of the door to the Chinese market is Group is well aware of its respon- external directors and the family wide open. sibility to ensure the sustainable withdrew from the group’s oper- handling of the Earth’s resources. ative management. However, in Greiner Bio-One is already Therefore, “Plastics for Life” is both order to protect their interests represented in this market, as a motto and a self-imposed obli- as owners, the fifth and, in the in October 2011 the manage- gation to employ plastic where it meantime, the sixth generation of ment signed a contract with creates value added with maxi- direct descendants of the found- its long-term trading partner mum quality in combination with er Carl Albert Greiner formed the Beijing Suns‑Real for a joint ven- the minimum use of materials, Board of Family Shareholders. ture under the company name systematic recycling and prod- Greiner Bio-One Suns. In addi- ucts that benefit life in general. In 2011, this followed with excite- tion, during 2012 Greiner Bio-One ment the opening of yet another proceeded to use the same new chapter by Greiner, which proven strategy in India by form- extended its feelers to South ing joint enterprises with trusted Africa. In 2012, the group agreed trading partners. The coopera- to the formation of a joint venture tion with Tristar Remedies thus with a foam manufacturer on a led to the foundation of Greiner 50:50 basis. Thus Unifoam Limited Bio-One India. entered the Greiner annals as its first company on African soil. Greiner’s Packaging Division is Unifoam also made history in 2014 also far from satisfied with what it when, while still fully operative, has achieved thus far and at the it installed Africa’s most modern instigation of Greiner Packaging foam plant within three months. Northern Ireland, it is building a plant in Pittston, Pennsylvania, At the same time, Greiner gradu- that will put top quality K3® cups ally became at home in China. In into the hands of the motherland 2013, a coordination and service of fast food. This is because in

25 Greiner Group Annual Report 2017

26 Kapitel

Plastics & Sustainability

27 Greiner Group Annual Report 2017 Plastics for Life: Our response to the challenges of the future

28 Plastics for Life

Population growth, increasing consumerism and the unbridled use of resources is pushing the Earth to its limits. The Greiner Group has long actively lived up to its responsibilities as a plastics processor and is mak- ing every effort to leave posterity with an intact ecological, social and economic structure. Through the inter-group implemen- The related aspiration is ambi- At Greiner, corporate account- tation of the Plastics for Life tious, as the Greiner Group not ability is a matter for executive sustainability strategy in only wishes to contribute to management and therefore the 2016, responsible conduct sustainable development, but Greiner Group Management was firmly anchored within also serve as a pioneer and Board bears overall responsibility corporate strategy and a example in its industrial field, and for the full range of sustainability voluntary contribution to moreover assist the achievement issues. With four heterogeneous sustainable development of the sustainable development operating divisions, the group is made that far exceeds goals (SDGs) established by the at home worldwide in a diversity statutory requirements. United Nations in 2015. The task of industrial segments. Accord- facing a plastics processor and ingly, the social and ecological foam producer in this respect topics for which answerability could not be more demanding, must be assumed vary greatly. as it requires the creation of new Therefore, in order to take this solutions to the ecological and into account, at the beginning social problems emanating from of 2017 the group’s sustainabil- the use of plastics. A key role in ity management structures this connection is played by the were markedly reinforced and establishment of a closed-loop enlarged. Furthermore, in order economy in which, following the to genuinely get to grips with end of their life cycle, the raw the sustainability question, an materials employed are returned internal organization was created to the production process in their that consists of a Sustainabili- entirety. ty Committee comprised of the Greiner Group CEO and specialists from the divisions and holding, five thematic working groups and a sustainability and corporate responsibility officer. Greiner Group Annual Report 2017

Plastics & Sustainability Environment & Resources

Environmental and climate protection numbers among the most pressing tasks of the current era. The Greiner Group takes this issue very seriously and in the environment and resources field is concerned with the question of how environmental impact can be reduced. In order to find the correct answers in this regard, an intensive focus has been placed on the thematic areas of energy-efficient working, resource conservation and the evaluation of applications for alternative materials.

30 Plastics for Life

At a total of 139 locations world- In 2017, the reporting of climate- wide, the Greiner Group is work- relevant data was also deci- ing on the continual reduction of sively further developed and an its ecological footprint without initial environmental balance impinging upon high product was drawn up within the scope quality and rigorous safety stan- of the Carbon Disclosure Project dards. The long-term objective is (CDP). The CDP gathers data an overall reduction in resource and information submitted vol- use and the waste created untarily by companies regarding during production. An important CO2 emissions, climate risks and step was taken in this connec- reduction targets and strategies, tion during 2017 in the course of and now administers the world’s the continuous improvement of largest database of its type. As a processes and structures. This result of this first time participa- involved considerable savings tion, the Greiner Group obtained by means of recycling and the an above-average assessment, reuse of plastic within the group. which documents the fact that Moreover, the Greiner Group has through its efforts the group is on chosen not to rest on its laurels, the right track. but instead has undertaken to install an environment and energy management system at all its production locations during the coming years. As part of this procedure, among other measures energy and material consump- tion, emissions, space use, waste and used water will be system- atically logged and complete production sequences scrutinized with respect to their environmental compatibility.

31 Greiner Group Annual Report 2017

32 Plastics for Life

Plastics & Sustainability Products

Resource conservation, emission reduction, the recyclability of products and the employment of alternative materials are areas of action within the framework of the further development of the Greiner product portfolio. In this connection, during Sustainability means the adop- recycling capacity, the use of 2017 a series of concrete tion of fresh approaches. Accord- alternative materials and the steps were initiated with ingly, as early as in the 1980s, the overall eco-balance at an even the objective of moving Greiner Group became intensive- earlier stage of the development the business model even ly involved with the further devel- process and thus ensures that all closer in the direction of opment of recycling technologies the products manufactured can the closed-loop economy for plastics and foam, as well be reused or easily disposed of. concept and developing as new applications for plas- products in such a manner, tic recyclate. In addition, in the The systematic analysis and that following their lifecycle course of company history, this shrinkage of the ecological the raw materials used can orientation towards sustainability footprint, and hence the vol- be returned to the produc- has on several occasions resulted ume of CO2 emissions caused tion process in their virtual in changes to both products and by a product during its lifespan, entirety. material utilization. To name just constitutes another cornerstone one example, two years prior to of the group’s sustainability the imposition in 2011 of the Euro- activities. There is a focus on the pean ban on the use of polycar- entire value added chain from bonate in babies’ bottles, Greiner raw material extraction, produc- ceased to employ plasticizers in tion and transport to disposal or its production. In spite of initial reutilization. business losses, this decision was adopted and implemented out of a sense of responsibility to both humans and the environment. Today, the group considers

33 Greiner Group Annual Report 2017

Plastics & Sustainability Supply Chain

The Greiner Group sees sustainability as a driving force for both innovation and growth, but one that can only be exploit- ed through partnership and not by unilateralism. Therefore, it has expanded its responsible corporate management to the entire value added chain with the aim of creating ecological, social and economic benefits for all the players involved in production and marketing.

34 Plastics for Life

As a globally active enterprise, the Greiner Group bears a major responsibility for its personnel, the environment, society and its stockholders. A major factor in this regard is the critical assessment and further development of its own products. Moreover, responsible product sourcing can also exert an influence upon global challenges and therefore the group has undertaken to carry out all its business activities along the supply chain in a sustainable, morally, legally and ethically irreproachable manner and on this basis increase its earnings in fair competition.

In line with a holistic approach, sustainability criteria such as environmental and work protection, as well as adherence to human rights are incorpo- rated into the selection and development of all suppliers. The framework for this cooperation is tabulated in the “Greiner Code of Conduct for Suppliers and Business Partners”. This is valid for all companies involved in transactions with the Greiner Group and establishes non-ne- gotiable, minimum standards and the basic principles governing a business relationship. In this way, responsibility is perceived across the group and it is ensured that dealings with all suppliers and business partners are ethically correct, ecologically sustainable and socially acceptable.

35 Greiner Group Annual Report 2017

36 Plastics for Life

Plastics & Sustainability Employees

The Greiner Group offers secure employment to over 10,000 people in 33 countries. There is a constant focus on the individual and During daily teamwork, there is agerial positions on a lasting therefore around the world, a reliance upon trust, answer- basis. Within the scope of GEMs, the concern can justifi- ability and mutual respect, which careers and development are ably claim to be a good creates the framework needed to both promoted within the group, and responsible employer. encourage the realization of indi- while at the same time staffing Employee job satisfaction vidual potential. For many years, risks are recognized and thus is also a central aspect of the group has invested in the successor vacancies and know- sustainability strategy and further training of both staff and how losses are avoided. therefore Plastics for Life managers in line with its convic- places an emphasis on tion that successful work is only Apart from fair and perfor- the securing of optimum possible in a value-based envi- mance-oriented remuneration, working conditions, diversi- ronment. The diverse training and as a family-owned enterprise ty, health and work safety, coaching programs provided by Greiner regards the compatibil- basic and further training the Greiner Academy are direct- ity of professional and family life and the compatibility of ed towards the early recognition as being of primary importance. work and family life. of talents and the support of Flexible working time models, both personal and profession- childcare at group headquarters al development. Accordingly, in and voluntary social benefits order to further consolidate its are just some examples of the personnel advancement efforts in measures that make the Greiner 2017 the Greiner Group launched Group an attractive employer. the Greiner Expert & Manage- ment Succession programs, GEMs for short, which is designed to ensure that top quality candi- dates fill specialist and man-

37 Greiner Group Annual Report 2017

Plastics & Sustainability Communica- tions & Social Commitment

Social commitment has for many years been a per- manent feature of Greiner’s corporate culture. Irrespec- tive of whether at its headquarters in Austria or one of the 139 locations worldwide, wherever the Greiner Group is represented it blends into society as a “good neighbor” and acts as a responsible partner. Social and communal obli- gations are fulfilled actively and with pleasure, and in this regard the group focuses on the targeted and beneficial funding of educational, cultural and sporting activities in its home districts.

38 Plastics for Life

Sustainable business operations NGOs and governmental organi- mean the maintenance of an zations, Greiner is working on the open dialogue with all stake- fitness for the future of plastics holder groups, in order that their within the new plastics economy. expectations and entitlements flow into the working day. Conse- While in the partnership with the quently, group-wide commitment Ellen MacArthur Foundation the forms bonds on a diversity of global challenges of the closed- levels and in addition to regional loop economy are being tackled, efforts, the Greiner Group is also as a member of the International part of national and international Solid Waste Association, Greiner initiatives aimed at solving global is also actively involved in the problems. An important partner issue of waste management in this connection is the Ellen systems, which it is seeking to MacArthur Foundation, which highlight. These measures are was founded in 2010 and with its flanked by national initiatives new plastics economy concept such as Zero Pellet Loss, which has nailed the concept of the is aimed at the prevention of closed-loop economy and thus plastic granulate entering waters the reuse and recycling of raw during company operations, and materials to its mast. Together a stakeholder commitment to the with other companies, think tanks, Upper Austrian Plastics Cluster. Greiner also actively supports Austria’s “klimaaktiv pakt2020”, an initiative for a climate-friendly economy and thus makes a further contribution to ensuring the sustainability of its entire industrial segment.

39 Greiner Group Annual Report 2017

Further, higher, stronger Kapitel Greiner Group Annual Report 2017

The global economic upturn has stabilized

In 2017, the global econo- In spite of more difficult general the states in the euro zone, they my maintained its upward conditions, the euro zone devel- clearly left the slump behind curve on an ever-broader oped in a positive manner during them. The growth driver in 2017 basis and with growth of 2017. Growth of 2.4 percent was was Spain, where in spite of the 2.8 percent, world eco- spread widely across both sectors smoldering crisis in Catalonia, nomic performance was and countries and the economy the strict austerity program and most satisfactory. Invest- defied political challenges such systematic labor market reforms ment in virtually the entire as Brexit, the Catalonian crisis resulted in the recovery of the Western world revived and and the forthcoming elections erstwhile economic problem child. the end of the crisis also in Italy. The root causes of this Moreover, Greece also witnessed boosted exports in the development lay in the expansive an upturn in 2017. threshold nations. Above monetary policy of the European all, the good news ema- Central Bank, private consum- In the UK, the vote to leave the nated from the euro zone er spending and the increasing European Union left traces. With (2.4 %), Japan (1.8 %) and propensity of European industry to growth of 1.6 percent, the British China (6,9 %), while with invest. Although the currency was economy was stable, but was growth of 2.2 percent, the strong, the euro zone demon- nonetheless well behind the euro USA lagged slightly behind strated export growth, especially zone (2.4 %). The modest pace of expectations. in the direction of China and the the negotiations and questions rest of the Asian region. regarding the actual form of departure caused uncertainties The German economy profited and a reduced willingness to from lively domestic demand, invest. In addition, owing to Brexit dynamic global trade and and the related weakness of the healthy investment. In the former pound, inflation returned to a far crisis countries, Spain, Portugal, greater extent than in the euro Ireland and Cyprus, 2017 saw a zone and the USA, and in 2017 robust upswing and with growth averaged 2.7 percent. rates in excess of virtually all

42 Management Report

Central and Eastern Europe Tax packages ignite the US economy Despite unstable political conditions, the Central and Eastern In the wake of Donald Trump’s European economy gathered electoral victory, the US economy momentum. In almost all of the experienced a marked upturn. countries of the region, private After growth of 1.6 percent in 2016, consumer spending driven by 2.2 percent followed in 2017 and a a significant improvement in further acceleration is anticipated employment rates and accom- for 2018. This development can panying above-average wage be traced to the strength of the and salary rises, was the key ele- global economy and the stimulus ment in this growth scenario. Fol- provided by the fiscal package lowing two years of recession, the agreed at the end of 2017. Russian economy grew by around 1.7 percent and similar expansion Threshold country devel- would appear likely in 2018. The opment roughly 15 percent increase in oil prices as compared to 2016 and Although subject to political a slow rise in loans due to falling unrest and the foiled military interest rates had a supportive coup in 2016, in 2017 the Turkish effect in this regard. In Poland, economy showed strong growth the economy performed better of over five per cent. First and than expected owing to higher foremost, this was the result of exports and private consumer Ankara’s launch of an expensive spending. In 2017, Polish GDP was economic program. up by over four percent. The Chinese economy continued to grow rapidly with an increase in GDP of 6.9 percent based on solid private consumer spending and dynamic investment. India lost impetus in 2017 with a growth rate of 6.4 percent.

43 Greiner Group Annual Report 2017

Sales revenues by region ACTUAL 2017 (change over the previous year and share of 2017 sales revenue in %) in million euros, joint ventures prorated.

Europe North America Asia South America Rest of world 2017 1,196 155 146 52 30 PY + 8 % + 1 % - 1 % + 19 % + 31 %

76 % 10 % 10 % 3 % 1 %

Sales revenues by division ACTUAL 2017 (change over the previous year and share of 2017 sales revenue in %) in million euros, joint ventures prorated.

Greiner Group GPI GBO GFI GEG 2017 1,579 641 473 387 80 PY + 7 % + 10 % + 5 % + 6 % + 1 %

100 % 40 % 30 % 25 % 5 %

44 Management Report

Greiner Group growth continues

In 2017, the Greiner Group performed well in a demanding environment. Consistent development in in the remainder of Europe, 774 in The EUR 1.5 billion sales all areas Asia, 666 in the NAFTA region, 197 revenue milestone was in South America and 70 in the passed for the first time Despite difficult general condi- rest of the world. and over 10,000 personnel tions, in 2017 the Greiner Group’s were employed worldwide. four operative divisions (Greiner Rising commodity prices The diversification strategy Packaging International, Greiner and unfavorable exchange again proved its worth and Bio-One International, Greiner rates reduced the dependence Foam International and Greiner upon individual markets Extrusion Group) held their ground 2017 was characterized by and branches. Further- and the net result for the year partially dramatic increases in more, the path to addi- was stable at a solid level. In 2017, raw material prices, particularly tional growth was paved group sales revenues rose by in the foam area, disadvanta- with the opening up of new seven percent as compared to the geous currency exchange rates sales opportunities and the previous year to stand at EUR 1.579 and shifts in customs and fiscal focus on innovation and billion (2016: EUR 1.475 billion). Cash barriers in some of our markets. sustainability. flow remained unchanged over As a plastics processor and foam the preceding year at EUR 148 producer, the Greiner Group million and was again employed to is highly dependent upon the finance all of the investments in the oil price trend and was espe- 2017 financial year. cially challenged by the further deterioration in the cost situation In 2017, the Greiner Group invest- with regard to crude-based raw ed EUR 119 million in tangible materials such as toluene diiso- assets (2016: EUR 101 million) and cyanate (TDI). employed a workforce of 10,567 (2016: 9,722) at 139 locations in With its 139 locations, the Greiner 33 countries around the world. As Group largely produces locally for at the closing date of 31 Decem- the respective domestic markets, ber 2017, the Greiner Group had 2,587 employees in Austria, 6,274

45 Greiner Group Annual Report 2017

which means that natural cur- will house a modern apprentice acquisition of its long-term sales rency hedging results. Never- and employee training center, partners Vacuette España and theless, raw materials are partly which will be completed in 2019. Vacuette Portugal. purchased in foreign currencies and depending upon the related Globalization, diversifica- Greiner aerospace extended trend, have a direct impact upon tion, innovation its competences to include the the result. Accordingly, the deval- cabin components for aircraft uation of the Turkish lira and the The Greiner Group continued through the purchase of CarTrim Brazilian real against the euro in to pursue its strategic goal of in Bosnia-Herzegovina and Ger- 2017 had a negative effect upon globalization with acquisitions many, and on 1 October, Greiner the results of the production cen- in Russia, Turkey, Sweden, Spain, Perfoam took over the business ters in both Turkey and Brazil. Portugal, Bosnia-Herzegovina operations of the AME company and Germany. In the spring of 2017, in Plauen, Germany. This compa- Positive development in all Greiner Packaging took a majority ny specializes in the lamination divisions holding in the Russian packaging of plastic backings with leather, specialist Plastic System, which is synthetic leather, textiles and Owing to high raw material pric- based in Noginsk near Moscow. In nonwovens. es, exchange rate volatility and addition, the company stepped insecurity on the global political up its involvement in the Mid- Intensive preparation work stage, 2017 was in many respects dle East and Africa through the culminated in the opening up of a challenging year. Nonethe- purchase of the remaining shares new sales markets and enabled less, in spite of this problematic in the Turkish joint venture, Teknik the demonstration of innovative environment all four divisional Plastik Greiner Ambalaj, which capabilities in the course of new companies performed well and now operates under the name and exciting customer orders. The in line with the strategic priorities Greiner Packaging. group also made progress with of the Greiner Group placed an regard to diversification through emphasis on globalization, diver- In 2017, Greiner Bio-One took entry into the fields of IV safety sification and innovation. over the listed Swedish compa- catheters, the leather covering of ny Vigmed Holding AB and thus parcel shelves, the processing of The Greiner Group has a focus enlarged its product portfolio with leather dress covers for aircraft on people. Therefore, the basic IV catheters. Moreover, the division seats and the purchase of know- and further training of employees, also consolidated its internation- how for the breeding of 3D cell who represent the most valuable al market position through the cultures. asset of successful companies, possesses special importance. This fact has also manifested itself in the enlargement of group headquarters in Kremsmünster/ Austria to form the Greiner Cam- pus, as apart from up-to-date office and open work spaces, this

46 Management Report

Advanced packaging solutions production are just some of the for the pharmaceutical and areas in which the Greiner Group medical branch, the introduction intends to continue to set an of the world’s first digital system example in future. solution for the optimization of the entire blood collection pro- Outlook 2018 cess, and multi-barrier packaging all serve to illustrate the The first quarter of 2018 pro- group’s innovative strength, which gressed satisfactorily. Entry into constitutes its third strategic new markets, the development of keystone. innovative products and processes, and the intensive imple- A focus on sustainability mentation of the sustainability strategy at the operative com- With Plastics for Life, the Greiner panies will all continue to remain Group has cemented sustainabil- at the top of the agenda in 2018. ity into its group-wide corporate As a family-owned enterprise, the strategy and has also set itself Greiner Group constantly has a the target of becoming a bench- focus on its long-term strategy mark in its own industrial branch. and business orientation, and is The adaptation of the product careful to preserve its autonomy portfolio, increased innovation in and independence. On the basis line with sustainability, as well as of the strategic triangle formed the advancement of the high- by globalization, innovation est environmental standards in and diversification, the group is already laying the foundation for a continuation of the Greiner success story in the next 150 years.

Greiner Packaging. Do the Innovation. Greiner Group Annual Report 2017

“Innovative ideas secure a sustainable future and especially in the plastic packaging area, we can make an environmental contribution.” Manfred Stanek CEO Greiner Packaging International GmbH 4,828 641 Employees Revenue (EUR million) 34 Locations

50 Greiner Packaging International Growth through acquisitions, innovation and customer orientation

In 2017 Greiner Packaging further consolidated its global activities with two significant acquisitions in Turkey and Russia. Growth was also boosted with an For almost sixty years, Greiner binations, as well as packaging eye to current trends and Packaging has numbered solutions such as plastic bottles, developments in both a amongst Europe’s leading man- containers and buckets. The social context and the ufacturers of plastic packaging second business unit, Assistec, packaging industry, as in in both the food and non-food has established a global rep- future the issue of sus- sector. The division counters utation as a solutions provider tainability is set to play a the challenges of the market and technology integrator and is special role. through two business units, the concerned with the production first of which is Packaging, which of customized plastic parts and has a product portfolio that products, as well as their assem- includes cups made from plastic bly and individual finishing. and cardboard-plastic-com-

51 Greiner Group Annual Report 2017

Positive business development in 2017

New chances Greiner Packaging is a global through social player and in 2017, the company had a workforce of 4,828 at 34 changes locations in nineteen countries. If joint ventures are included, Greiner Packaging attained annual sales revenues of EUR 641 million, which represented an increase of ten per cent over the preceding year (2016: EUR 581 million). By and large, the individual locations developed in a positive manner with partially marked sales growth as compared to 2016. This development was based on fruitful projects with new clients and a successful expansion strategy, which the company continued to vigorously pursue during 2017. A new joint venture was founded in Russia and an existing undertaking in Turkey was fully taken over. Fur- thermore, the positive operating result was achieved in spite of detrimental external factors such as the rising price of polyolefins in general and polystyrene in particular, which impacted company business worldwide. Conversely, owing to the stronger euro and corresponding imports, although price levels were high, the securi- ty of supply was ensured.

Global trends point to the way ahead

The packaging industry is cur- rently faced by a diversity of changes. The tendency towards lighter packaging is exerting pressure on materials such as metals and glass, while simultaneously creating fresh opportu-

The first Kavoblow MBT bottle: the new ketchup packaging employs innovative stretch blow molding in combination with barriers.

52 Greiner Packaging International

Recycling made easy! Card- board-plastic-combinations are conquering the USA, especially as the cardboard bottom of the K3®-H can also be printed.

nities for plastics producers such standing as a globally active and as Greiner Packaging. However, future-oriented company to an the latter are confronted by the international specialist audience. challenges posed by a raising of recycling quotas, a reduction New markets, of the plastic content in pack- new opportunities aging in order to make it lighter, and an increasing reliance on Europe continues to represent non-crude oil based, organ- Greiner Packaging’s domestic ic resources. The issue of food market, but in recent years the waste also plays an important company has placed a strong role in research into new pack- emphasis on the expansion of aging possibilities, as growing its global presence. For example, consumer awareness with regard since 2014 Greiner Packaging to sustainability should also be has been represented in the USA taken into account. At the same and during 2017, the company time, the demand for packaging location in Pittston, Pennsylvania is rising, as an ever-larger num- developed in an entirely satis- ber of people worldwide migrate factory manner and was able to to the megacities and the trend considerably enhance its market towards single-person house- position. As compared to 2016, holds strengthens, thus boosting the young company was able to the demand for smaller packag- register growth well in excess of ing sizes. In addition, an urban 50 per cent, which resulted main- lifestyle also furthers the desire ly from teamwork with numerous for convenience products, which major customers, which among on the one hand can be quickly others included one of the larg- and simply prepared and then est national players in the retail eaten while on the move, but on sector. Furthermore, business with the other must have a longer the K3® cardboard-plastic-com- shelf life. Greiner Packaging’s bination, which as opposed to Positive develop- response to these trends was Europe, constitutes a novelty in exhibited at the interpack trade the USA, also demonstrated pos- ment in the USA fair held in Düsseldorf in May itive development. 2017, where apart from innovative product solutions, it displayed its

53 Greiner Group Annual Report 2017

Successful joint ventures in Tur- key and Russia

The Greiner Packaging location in a devaluation of the British in Turkey should also become a pound, which has made imports success and in summer 2017, the more expensive and thus boosted company raised its holding in the the demand for British products Istanbul-based firm, Teknik Plastik and strengthened their market Greiner Ambalaj, from its previous position. Conversely, the prices of level of 51 per cent to 100 per raw materials from the euro zone cent. This complete takeover of a have risen, thereby creating prob- Turkish dairy product packaging lems for the company. operation represents a continuation of the involvement in International orders for specialized plastics in Turkey, the Greiner Assistec Middle East and North Africa. As an expert in the realization of The company also consolidated complex projects, during the past its position in the Russian market year Greiner Assistec took an during 2017 with the acquisition in important step towards becom- March of a second national loca- ing a global solutions provider tion in the city of Noginsk near and technology integrator. In the Moscow. The aim of the resultant course of the 2017 financial year, joint venture, in which Greiner above all the business unit was Packaging holds the majority able to distinguish itself through In the course of the upgrading of interest, is to step up activities major international contracts, the smoke alarm production process for Celestica Greiner Assistec was in Russia and expand the range such as those for the Makita honored with the “Total Cost of on offer. Larger containers such company, which manufactures Ownership Supplier Award”. as buckets were added to the high-quality battery powered product portfolio through the and e-tools for DIY enthusi- acquisition and furthermore, asts and professionals, and the competences in the IML and Celestica organization, which direct printing area were also is a leading supplier of design, supplemented. production and supply chain solutions. The latter also present- Challenges and upheavals ed Greiner Assistec with its “Total Cost of Ownership (TCOOTM) However, worldwide involve- Supplier Award 2016” for the unit’s ment also brings challenges, a solution for increased perfor- fact that in particular Greiner mance, improved quality and a Packaging is experiencing at its reduction in the delivery period locations in Turkey and Northern with regard to the manufacture Ireland. The continual devalua- of wireless smoke detectors. tion of the Turkish lira since 2017 Greiner Assistec has had a significant influence on the profitability of the com- convinces major pany and as far as the location in Dungannon, Northern Ireland is customers concerned, Greiner Packaging is feeling both the positive and negative effects of political deci- sions. The Brexit vote has resulted

54 Greiner Packaging International

Into a successful future Outlook 2018 with sustainability and digitization Greiner Packaging looks to the coming year with optimism Sustainability is the order of the based on a recipe for success day. Environmental protection that includes early trend recog- measures, social production con- nition, the taking into account of ditions and the responsible han- customers wishes and needs, and dling of resources are in demand top quality solutions that are both amongst an increasing number practical and visually attractive. of consumers. Those wishing to The forecasts with regard to eco- enjoy market success must pay nomic growth are highly promising close attention to this trend and the demand for stiff pack- and in the packaging industry aging is set to increase further sustainable materials, prod- owing to population growth and Sustainability ucts and production processes urbanization. The challenges that secures the are also gaining in importance. remain to be overcome include Consequently, Greiner Packag- currency fluctuation like that in future ing examines every phase of the Turkey and the expected price production lifecycle, from material rises for raw materials. Howev- selection and the manufacturing er, with a focus on innovation processes to recycling, for opti- and further development work, mization potential. This is equally Greiner Packaging will continue the main priority in the digitiza- to rely on a proven formula with tion field and for example, for the which in future, new markets and first time large-scale production categories will be opened up in the coffee capsule area has and customers provided with been perfected with the aid of individual service. digitization processes. Reject numbers were lowered, output increased and production costs cut. Moreover, quality checks were raised to a new level and the outlay for machine maintenance was reduced. Greiner Packaging has also augmented the future trends of sustainability and digitization with proven measures for success. The IBT and MBT barrier technologies have been developed further and in the meantime are offered in combination with the entire technology range. As a result, customer needs are covered in the best possible manner.

Innovative design with a traditional copper look. The Ayran cups provide authentic drinking pleasure.

Greiner Bio-One. Your Power for Health. Greiner Group Annual Report 2017

“We are investing in our locations and innovative product solutions in order to meet the needs of our customers.” Rainer Perneker CEO Greiner Bio-One International GmbH

2,247 473 Employees Revenue (EUR million) 26 Locations

58 Greiner Bio-One International

Increased growth through new locations and product solutions

During the 2017 financial Greiner Bio-One Internation- eHealth Technologies), which year, Greiner Bio-One al is one of the world’s leading furnish greater efficiency and International continued companies in the field of medi- patient safety during the prean- to consolidate its market cal technology. The Preanalytics alytical process. The BioScience position. The enlargement business unit, which is based in business unit, which has its of its headquarters in Kremsmünster (Austria), develops headquarters in Frickenhausen, Kremsmünster was com- and produces innovative col- Germany, acts as a technology pleted, the product portfo- lection systems for human and partner to universities, research lio supplemented through veterinary samples of blood, urine institutes and the diagnostic, acquisitions and the loca- and saliva, which thus make daily, pharmaceutical and bio-tech- tion network in Europe routine tasks in hospitals, labo- nological industries. BioScience expanded. ratories and medical practices is a leading developer and simpler and safer. In addition, the producer of a broad range of unit also provides customized, special products e.g. for the digital systems solutions (Greiner cultivation and analysis of cell

59 Greiner Group Annual Report 2017

Good business development with high capacity cultures, as well as microplates trend and foreign currency effects for high-throughput screening, hindered an even better business utilization levels which is an automated method development as compared to for the rapid completion of bio- the preceding year. chemical, genetic and pharma- cological substance testing. The European sales network third business unit is Mediscan, strengthened a wholly-owned subsidiary of Greiner Bio-One International, March 2017 saw the acquisition which is also based in Kremsmün- over the long-term, exclusive ster (Austria) and is a supplier of sales partners Vacuette España expert services in the sterilization and Vacuette Portugal. This of medical products and food important step facilitated greater Distributor take- packaging, as well the function- customer proximity and more al improvement of plastics and precisely targeted marketing on overs in Spain semiconductors by means of the Iberian Peninsula. As a result, ionizing radiation. another important landmark and Portugal was reached in the systemat- As an original equipment manu- ic implementation of the sales facturer (OEM), Greiner Bio-One is strategy. Through this important also a trusted partner for indus- acquisition, from now on Greiner trial customers from the pharma- Bio-One will be represented in ceutical, biotechnology, diag- all of Europe’s main markets with nostics and medical technology its own branches. In addition, in industries, and undertakes the line with the growth strategy the design of special developments distributor organization in the and production processes for its Eastern European markets was clientele. optimized and reinforced.

High capacity utilization New headquarters opened results in pleasing business development During the 2017 financial year, Greiner Bio-One invested In 2017, Greiner Bio-One EUR 55 million in the expansion employed a global workforce of of capacities at its internation- 2,247 people at 26 locations in al locations. October 2017 saw 19 countries and was again able the opening of the extension to to further strengthen its market company headquarters in Krems- position. The company achieved münster and the accompanying sales revenues of EUR 473 million, celebration of the 25th anniversa- which represent growth of around ry of their foundation. five percent over the preceding year (2016: EUR 452 million). Solid expansion was attained in the Asian growth markets, the USA and South America, and the constantly high use of capacity at all the production locations during 2017 represented a clear indica- tion of solid customer confidence. However, the raw materials price

The new Greiner Bio-One headquarters in Kremsmünster.

60 Greiner Bio-One International

An artwork with 7,760 VACUETTE® tubes in the reception area of the new Greiner Bio-One headquarters provides a reminder of the development of the VACUETTE® system in the 1980s.

Ten million euros were spent on this enlargement, which apart from offices also includes laboratory facilities. Departments that were previously widely separated and partially divided up amongst differing buildings have now been united organizationally, and the resultant shorter distances and open space design provide improved teamwork, communications and working procedures.

The addition of a second warehouse at the Hungarian location was completed in November 2017 and henceforth will cover the increasing requirements generated by recent production expansion. Furthermore, owing to the continued rise in demand for blood collection tubes, production capacity in Brazil was again increased.

More branches and increased capacities

61 Greiner Group Annual Report 2017

Three-dimensional in vitro assays are seen as offering great promise in the high throughput screening field.

Innovative products for cess-optimized system solution greater safety and at the Steyr Regional Hospital efficiency (Austria) in cooperation with the Oberösterreichische Gesund- In July 2017, Greiner Bio-One heits- und Spitals-AG (gespag) purchased over ninety percent of managerial organization. The the shares of the listed technolo- topic of medical technology dig- gy and trading company, Vigmed itization at Greiner Bio-One thus Holding AB, which is based in found its way onto the interna- Helsingborg (Sweden). Vigmed tional stage. During reference vis- designs and sells IV catheters its to the Steyr Regional Hospital, with a safety mechanism and via leading experts from a number of its development team possesses countries were able to convince extensive market, product and themselves of the efficiency of technological know-how. For the system solution at first hand. Greiner Bio-One this acquisition represents an excellent supple- New and innovative CXTM ment to its preanalytics portfolio automats were developed in of safety products and facilitates cooperation with the HAMILTON® entry into an attractive growth company. They are intended to market. automate all the manual pipet- ting steps of the PapilloCheck® In the capillary blood collection HPV test, in order to obtain qual- area, Greiner Bio-One launched itative detection of HPV (human the new MiniCollect® Complete papilloma viruses) in a faster tube onto the market. In addition, and more efficient manner. The the product line for the collection CXTM NIMBUS® and CXTM STARlet of small and very small quantities launched in 2017 offer diagnos- of blood was enlarged with a tic laboratories the chance to standard MiniCollect® tube that switch to an automated equip- is already pre-assembled in a ment platform and thus achieve carrier tube (13 x 75 mm). Handling more effective HPV screening at during the analysis procedure higher clearance rates. The CXTM and automated processing is NIMBUS® is a compact liquid thus simpler, more efficient and handling automat and has been Intravenous hygienic, as both the blood designed for laboratories with sample and subsequent analyses small to medium-sized sample catheters are a can take place using the same throughput. The device offers new addition to sample container. speed, flexibility and user friend- liness, as it is also compatible the portfolio In an initial pilot project, using with equipment that is already in LabCollection and LabFlow laboratory operation. Conversely, software, as well as VACUETTE® the CXTM STARlet enables com- barcode tubes, Greiner eHealth plete integration and process Technologies (GeT) successfully automation. implemented its holistic, pro-

62 Greiner Bio-One International

Three-dimensional in vitro Outlook 2018 assays are seen as offering great promises in the high throughput The forecasts for 2018 point to screening field, as they facilitate continued growth. One focal a more meaningful assessment of point will be the expansion of the effectiveness of cancer med- market positions in Asia and ication at an early development North America. In addition, the phase. CELLSTAR® cell culture foundation of new sales branches flasks with cell-repellent surfaces outside Europe is in the planning are ideal for the cultivation of phase and services and product cells in 3D structures. In partic- training play a central role in this ular, excellent results have been regard. These will be offered pro- The MiniCollect® Complete for automated processing. obtained in combination with the actively to customers in order to technology from the coopera- prevent preanalytical errors and tion partner Nano3D Bioscienc- enhance both sample material es from Houston in Texas (USA). quality and hospital staff safe- This technology is based on the ty, especially in developing and magnetization of cells with the emerging countries. Furthermore, aid of nanoparticles, which lodge the product portfolio will again Magnetic 3D on the cell membrane. As the be expanded with new safety cell culture for cell-repellent surface prevents and innovative product solutions. the anchorage of semi-ad- cancer research herent and adherent cell lines, Owing to the outstanding this solution is highly suitable capacity utilization levels derived for suspension cultures and the from major orders and the sharp cultivation of spheroids, stem cell rise in international demand, the aggregates and gel-based 3D production capacities for blood cultures. collection tubes will be increased significantly at a number of international locations and enlarged with additional plant of the latest generation. Phase 1 of the installation of a new high-bay warehouse at the Frickenhau- sen location (Germany) will be concluded in the first half of the year and subsequently work will commence on Phase 2 with the enlargement of office and production facility space.

The CX™ STARlet for the automated genotyping of HPV.

63 Greiner Group Annual Report 2017 Greiner Foam International. Foam for Life. Greiner Group Annual Report 2017

“We are increasing our market shares through expansion and a focus on innovative products.” Michael Schleiss CEO Greiner Foam International GmbH 2,563 Employees 387 50 % share in joint ventures Revenue (EUR million) 50 % share in joint ventures 63 Locations

66 Greiner Foam International

Growth in all business units in spite of problematic underlying conditions

Greiner Foam International is one of the world’s most successful manufacturers of special foams. According- With the companies Greiner Per- Eastern Europe, and Unifoam, ly, in spite of a challenging foam, Greiner aerospace, Greiner which is based in Durban, South environment, the company MULTIfoam, Greiner PURtec and Africa, are leading suppliers in was able to increase its sales the joint ventures Eurofoam and the field of flexible polyurethane revenues in 2017 and a clear Unifoam, Greiner Foam Interna- foam manufacturing and pro- expansion strategy will also tional unites all the foam compe- cessing for upholstered furni- ensure positive business tences within the Greiner Group. ture, mattresses, the automotive development in future. As a strategic division with 63 industry and building technology. locations in 18 countries and a workforce of over 2,500, Greiner Greiner Perfoam is a leading inter- Foam International is active in national developer and producer the polyurethane foam (PU foam), of functional, interior trim parts, as automotive, aviation and building well as specially designed acous- technology business areas. tic components for the engine and passenger compartments in Eurofoam, with its tightly knit net- premium class cars. work of locations in Central and

67 Greiner Group Annual Report 2017

Greiner aerospace, which has plants in Europe, the USA and China is a globally active specialist in the field of cushions and seat covers for passenger aircraft, while Greiner MULTI- foam produces recycled composite foam for the sports, shoe and construction industries. In addition, its subsidiary, GuKo- Tech, manufactures top quality rubber and cork products for the construction industry, cargo securing, room acoustics and insulation. Last, but not least, Greiner PURtec specializes in highly efficient insulation for hot water boilers.

Increased sales revenues despite high raw material costs

In the 2017 financial year, Grein- er Foam International was able to raise its sales revenues by six percent to EUR 387 million (2016: EUR 364 million). This growth was achieved in spite of problematic conditions and was partly the result of good capacity utilization at all the business units and price Foam in all its diversity. increases for PU foam. However, as a foam manufacturer, Greiner Foam International is highly dependent upon crude oil based raw materials such as polyols and isocyanates, and particularly with regard to the latter, Raw material beginning in the second half of 2016 prices surged to a previously prices at an unknown extent and by the end of 2017 had reached an all-time all-time high high. As such price increases cannot be passed on to customers in full, these unprecedented raw material costs affected result development, but nonetheless, due to the prompt initiation of countermeasures, no alarming negative deviations occurred

68 Greiner Foam International

within Greiner Foam International map will determine a clear route and some business units actually for every business area with a Positive business surpassed their budget targets. focus on the innovative upgrading development of external market performance Growth through on the one hand and internal pro- with high ca- globalization cess and productivity optimization on the other. The objective is to pacity utilization Greiner Foam International is achieve a sustained improvement pursuing a systematic expansion in both customer benefits and strategy, which is focused on profitability. the PU foam segment. Therefore, among others, discussions were Eurofoam faces a held with potential cooperation challenging year partners in Mexico, Malaysia, the UAE, India, Iran, Brazil, Egypt Although market conditions were and Turkey. However, owing to a extremely difficult in 2017, Euro- variety of reasons that frequently foam succeeded in maintaining included an insecure business its market share. The dramatic environment derived from region- rise in raw material costs and the al political instability, to date dichlorbenzene crisis triggered by these talks have not resulted in a a supplier in the second half of concrete takeover. In 2018, merger the year had a negative impact and acquisition activities will and temporarily induced a state concentrate on Mexico, Dubai, of shock throughout the entire Malaysia, India and Brazil and foam industry. Systematic in the defined growth segments automotive and aviation Greiner Nonetheless, in 2017 Eurofoam expansion in Foam International plans addi- continued to expand with the the PU foam tional takeovers in order to open start-up of a loop splitter in up new markets and further Sibiu (Romania) and the further segment enlarge the product portfolio. enlargement of roll business in southeastern Europe. Moreover, A focus on employees and fully automatic mattress pro- digitization duction commenced in Zgierz (Poland) with an annual capacity In view of the increasing short- of 500,000 pieces. ages of personnel and qualified specialists, Greiner Foam Inter- Unifoam masters national has initiated numerous demanding conditions measures for staff recruitment and retention. On the one hand, Owing to political unrest and the these are targeted on attractive, resultant economic challenges, supra-regional offers for future 2017 was a very exacting year in employees and on the other, the South Africa. However, in spite of loyalty of the current workforce. business confidence being at a Despite these endeavors, obtain- premium throughout the country ing suitable people in sufficient and the dramatic raw material numbers remains a problem, price trend, both market share especially in Central and Eastern and margins were maintained at Europe and therefore, among a solid level. Moreover, with the other results, higher personnel start-up of the “Mattress in the expenses can be expected. Box” line and new foam solutions, Uniform celebrated a number of Digitization is becoming an highlights during the year. increasingly relevant factor in B2B market competition, as existing business models have to be mod- ified. Greiner Foam International is equipped for this development and as part of the “Digital Agen- da”, in 2017 launched a compre- Eurofoam pactec transport packaging. hensive analysis of the status quo. As a result, in 2018 a digital road

69 Greiner Group Annual Report 2017

Greiner Perfoam remains MULTIfoam can reflect geared for growth upon a successful financial year Greiner Perfoam remains com- mitted to expansion and thanks In 2017, MULTIfoam was able to Greiner Perfoam transmission bell to order acquisitions anticipates further consolidate its share of encapsulation. good use of capacity in the com- the European market for eco- ing years. Indeed, in order to meet logically sustainable products customer requests for global sup- in the artificial turf and tennis ply, apart from the five European segments. A new production and locations, the joint ventures in storage hall was put into opera- China (Tianjin und Shenyang) and tion in Ozorków (Poland) and the Mexico (Celaya) founded in 2016 GuKoTech subsidiary in Nürtingen are to be expanded into pro- (Germany) both enlarged and duction facilities. Furthermore, the modernized its plant capaci- AME company in Germany, which ty. In addition, during the past specializes in covering interior trim year MULTIfoam developed a parts for cars with leather, syn- new composite material, which thetic leather, textiles, and fleece, is employed in vibration atten- was taken over in October 2017, uating, elastic components for thus supplementing the product shockproofing. portfolio and increasing in-house value added. PURtec opens up new markets Greiner aerospace continues on an expansion As part of the EU’s stricter energy course policy, 2017 saw the introduction of minimum standards for the In the first quarter of 2017, Greiner energy efficiency of heating and aerospace purchased the Ger- hot water boilers. This has led to man company, CarTrim Aircraft, increased demand for top quality which is a specialist in the field insulation solutions with the result of fabric and leather aircraft that PURtec has opened up seat covers. The integration of a new markets in Scandinavia and production facility in Bosnia-Her- southern Europe. Moreover, during zegovina and a development the year the acoustic solutions Regional market center in Plauen in Germany has for the office and home areas, resulted in a further cementing which can be individually print- growth of market position. Moreover, ed, also demonstrated positive additional know-how and man- development. ufacturing capacity have been obtained. During the summer, company headquarters were transferred from Schwanenstadt to Pettenbach (Austria).

70 Greiner Foam International

Outlook 2018

Even though raw material cost have reached a record level, at present there is still no sign of the pressure easing, as prices are continuing to rise. Nevertheless, the positive economic situation permits the expectation of a positive sales revenue and volume trend in all of Greiner Foam International’s business units. The focus with regard to the Eurofoam participation is on the implementation of the sharehold- er strategy in order to be ideally equipped for future market conditions and further growth. 2018 will also see the retention of the systematic expansion strategy with the acquisition of a majority holding in Unifoam and efforts aimed at regional market expansion in southern Africa. At Perfoam the emphasis will be on the start-up of series manufacturing in Europa, China and Mex- ico, while Aerospace will put the innovative “structured cushion” for aircraft seats into serial production. Moreover, 2018 will also wit- ness a marked increase in output capacity at MULTIfoam’s Polish factory through the installation of a new composite foam plant.

International aircraft seat manufacturers and airlines appreciate the comfort and quality finishing delivered by Greiner aerospace.

Greiner Extrusion Group. Keeping you ahead in Extrusion. Greiner Group Annual Report 2017

“We have invested extensively and have thus expanded the production range for the entire extrusion branch.” Gerhard Ohler CEO Greiner Extrusion Group GmbH 820 80 Employees Revenue (EUR million) 11 Locations

74 Greiner Extrusion Group

A global player in the extrusion plant engineering field

Since its foundation forty Sales revenue growth and network enabled the capture of years ago, the Greiner increased market share higher sales revenues and addi- Extrusion Group has tional market shares in 2017. evolved into the world’s The Greiner Extrusion Group leading supplier of extru- offers its customers tailor-made National market highlights sion lines, tooling and com- products and individual solu- plete systems for profile tions for profile extrusion, which The course of business in the extrusion. In 2017, these extend from engineering, tooling DACH region, the Iberian Pen- key competences were and machine manufacture, to insula, Turkey and Asia was enhanced and the services the supply of turnkey lines. These extremely positive. This applied range extended. services are provided by eleven equally to both the Window locations in six countries and in and Door, and Technical Pro- the 2017 financial year, Greiner file business areas. In overall Extrusion Group with its workforce terms, numerous major orders of 820 increased its sales reve- for high-performance tooling nues by one per cent to EUR 80 and successful machine business million (2016: EUR 79 million). ensured solid capacity utilization.

The positive economic situation Both RED.LINE high-performance in North America and Asia was lines with the latest extrusion counterbalanced by a prolonga- technology and RED.TOOLING EUR 80 million tion of difficult conditions in Russia systems were placed in France, mark reached and some European countries. which also saw an intensification However, the targeted strength- of customer support through the ening of specific, national market- complete takeover of the Solufip ing competences, greater sales toolmaking company. system efficiency and the consolidation of the global partner

75 Greiner Group Annual Report 2017

In North America, market shares were gained in both the tool- Successes in ing and machinery sectors. An Europe, North investment in additional processing machines was made at America and Greiner Extrusion US Inc. in order to cover the increased demand Asia for tooling in the dollar zone. Moreover, the business trend in the PVC dry blending equipment segment developed in a highly satisfactory manner. Special plastic replaces steel reinforcement 2017 also saw the acquisition of new customers and strategical- In a joint project with BASF, Greiner Extrusion Group offers innovative solutions for the multi- ly important contracts in South experts from the Greiner Extrusion layer co-extrusion of a variety of America. This was achieved in Group developed a special materials. spite of economic crisis and more tooling system for the extrusion of difficult import conditions. Ultradur®, a new type of plastic compound with glass fiber rein- Multifaceted solutions for a forcement. The group supplied variety of materials the project with its process technology know-how and tooling The business volume with regard design for the precise orienta- to tooling and machinery for the tion of the glass fibers during extrusion of PVC-based cable the extrusion process. With this duct systems rose significantly. technology, heat insulting, plastic Moreover, in the polyolefin extru- window profiles can be manu- sion area, projects were complet- factured with the required rigidity, ed for particularly demanding which means that the standard applications in the infrastructure use of steel reinforcement is no sector. In this connection, the longer necessary. Greiner Extrusion Group’s process experts established new bench- marks with regard to haul-off speed and the precise calibration of solid profiles. The diversity of special solutions for the extrusion of technical plastics used Innovative tech- New technology for more for applications such as lighting recycling material systems and swimming pool nologies for di- covers also increased. Equally, verse materials Materials represent the main the start-up of a complete pro- extrusion cost factor and there- duction line for large profiles with fore the combined use of new synchronized in-line perforation material and less expensive can be regarded as yet another recyclates has become standard technological highlight in 2017. practice in many profile applications. Consequently, in 2017 Greiner Extrusion Group presented LAYER.COEX plus, its latest co-extrusion technology development. This facilitates the still greater employment of recycling material, while continuing to offer first class surface quality and precise layer thickness control for improved cost efficiency. In 2017, the Greiner Extrusion Group again mastered numerous major orders and delivered a range of lines to meet the strictest customer requirements.

76 Greiner Extrusion Group

Greiner Extrusion Group is a full range supplier for profile extrusion from formulation to the final product.

77 Greiner Group Annual Report 2017

SILVER.TOOLING for the economy segment

A focus on essentials resulted in the presentation in 2017 of SILVER. TOOLING, an especially economic tooling system for the extrusion of smaller profiles such as glass beads, rods, technical profiles, etc. The system contains core ele- ments of high-end Greiner technologies and stands out due to its slim design, excellent price-performance ratio and particularly short delivery times. Numerous orders turned the SILVER.TOOLING launch into a genuine success.

The SILVER.TOOLING system was developed PROFILE.RAISER revolution- especially for the extrusion of smaller profiles. In particular, it stands out due to first class izes the start-up process cost-efficiency and very short delivery times. A further product innovation in 2017 was the PROFILE.RAISER. This is a completely new system, which during start-up automat- ically brings the profile into the correct intake position on the haul-off. With the PROFILE.RAISER the Greiner Extrusion Group offers an inventive solution for an industry-wide safety problem and also raises the level of profile extrusion automation.

With “ALL EXTRUSION” GPN has opened up new areas and has extended its range for customers with precise production performance for film and sheet dies, cable, tube and hose extrusion tooling, melt pump components, compounding and recycling machines and pultrusion toolings.

78 Greiner Extrusion Group

“ALL EXTRUSION” at GPN development activities on the digitization of the extrusion pro- The Greiner Production Network cess with an emphasis on melt (GPN) specializes in the precision flow control and the calibration Production per- production of profile tooling in and cooling of the plastic profile. line with customer specifications These “drivers” represent the core formance for the and with its “ALL EXTRUSION” competence of the Greiner Extru- strategy provides a performance sion Group, which has the aim of complete extru- range for the entire extrusion achieving fully automated profile sion sector branch. In particular, this incor- extrusion control. porates the production of film and sheet dies, cable, tube and Outlook 2018 hose extrusion tools, melt pump components, compounding and The new financial year has recycling machines, and pultru- started well. Numerous projects sion toolings. have already been concluded or are in the negotiating phase. In 2017, the growth course in Furthermore, important pre- the “ALL EXTRUSION” area was requisites for a continuation of also characterized by exten- positive company development sive investments in processing have been created and the machines and automation. These investments made in moderniza- included the start-up of a flexible tion and automation during 2017 production system and a highly will further raise productivity. At modern multi-axis machining the same time, GPN now offers center for large-volume tooling, production performance for the e.g. for flat film dies. entire extrusion branch and the consolidation of specific national Profile extrusion 4.0 sales competences will serve to intensify customer relationships Key competenc- The fourth industrial revolution in new markets. The Greiner has also entered the profile Extrusion Group is also ideally es have been extrusion field and for branch equipped with regard to innova- companies, digitization and tive capacity, as it possesses the further strength- networking have opened up global industry’s largest develop- ened innumerable new, high-poten- ment capability. This goes hand tial areas. From the outset, the in hand with the claim to pro- Greiner Extrusion Group has vide customers with tailor-made played an active role in shap- solutions that offer a larger lead ing this trend. For example with in extrusion. RED.LINE control, the GESS.tronic energy saving system or FLOW. CONTROL, all production data can be monitored, controlled and reproduced. In addition, using FLOW.CONTROL product dimensions are reduced to the lowest tolerance limit, the start- up process is accelerated and significant material savings are achieved. Moreover, the Greiner Extrusion Group has focused its

79 Notes Imprint

Owner and publisher:: Greiner Holding AG Greinerstraße 70 4550 Kremsmünster, Austria

Concept, design, editing: Corporate communications Greiner Holding AG Graller, Werbung.

Photos: Greiner Group, Greiner Packaging International, Greiner Bio-One International, Greiner Foam International, Greiner Extrusion Group, Greiner aerospace/Patrick Lux, Robert Maybach, Joachim Haslinger, Shutterstock

Telephone +43 7583 7251-60301 Fax +43 7583 6308 [email protected] www.greiner.com

Note

Actual developments may differ from the expectations expressed in statements relating to the future. Greiner Holding AG (AT)

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full consolidation

consolidation at equity

no consolidation