MATERIAL OF THE FUTURE - Greiner GFI · GREINER GROUP ANNUAL REPORT 2016 FOREWORD BY THE MANAGEMENT BOARD In the 2016 financial year, we once again took another big step towards our

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MATERIAL OF THE FUTUREANNUAL REPORT 2016

GREINER HOLDING AGKremsmünster, AT – Management Board: Axel Kühner, Hannes Moser

GREINER PACKAGING INTERNATIONAL GMBHPlastic packaging for food and consumer goods, technical parts Divisions: K, Kavo, Assistec Headquarters: Sattledt, AT – CEO: Manfred Stanek

GREINER EXTRUSION GROUP GMBHTools, machinery and equipment for profile extrusionDivisions: Window, Technical Profiles, Greiner Production NetworkHeadquarters: Nußbach, AT – CEO: Gerhard Ohler

GREINER BIO-ONE INTERNATIONAL GMBHMedical technology, diagnostics, life scienceDivisions: Bio-Science, Preanalytics, OEM, MediscanHeadquarters: Kremsmünster, AT – CEO: Rainer Perneker

GREINER FOAM INTERNATIONAL GMBHFoams for comfort, sports and technical applications, aircraft seats, containers, interior parts for automobiles, sound insulation Divisions: Eurofoam, Greiner Perfoam, Unifoam, MULTIfoam,

aerospace, PURtec Headquarters: Kremsmünster, AT – CEO: Michael Schleiss

2016 2015

Consolidated sales 1,475 1,441

Cash flow 148 132

Investments 101 94

Employees 9,722 9,299

Sales per employee 0.15 0.15

KEY FIGURES

GROUP STRUCTURE

Actual in million Euros, joint ventures pro rata

IT USED TO BE

AN ACHIEVEMENT

TO MAKE FIRE

WITH STONES.

TODAY, PLASTIC IS THE

MATERIAL THAT ENRICHES

OUR LIFE SUSTAINABLY.

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HIGHLIGHTS 2016 2

FOREWORD BY THE MANAGEMENT BOARD 4

FOREWORD BY THE SUPERVISORY BOARD 6

VALUES & PHILOSOPHY 8

FOREWORD BY THE BOARD OF FAMILY SHAREHOLDERS 9

DIVISION MANAGEMENT 10

JOSCHKA FISCHER ABOUT PLASTICS FOR LIFE 14

OUR STRATEGY FOR SUSTAINABLE GROWTH 16

PLASTICS FOR LIFE - MANAGEMENT APPROACH 18

GOALS FOR SUSTAINABLE DEVELOPMENT 20

MATERIAL OF THE FUTURE 22

TEACH FOR AUSTRIA 24

CAP. 25

PROJECT SINA 26

INNOVATIONS: THE ENGINE THAT DRIVES THE FUTURE 28

KLIMAAKTIV PAKT2020 30

CORPORAID 32

GREINER DAY CARE 33

GREINER AND ARS ELECTRONICA 34

THE NEW PLASTICS ECONOMY 36

FOCUS ON PEOPLE 38

COMMITMENT TO EMPLOYEE AND HEALTH PROTECTION 39

ZERO PELLET LOSS 40

SUSTAINABLE ENTREPRENEURSHIP AWARD 41

MANAGEMENT REPORT 44

GREINER PACKAGING INTERNATIONAL 50

GREINER BIO-ONE INTERNATIONAL 58

GREINER FOAM INTERNATIONAL 66

GREINER EXTRUSION GROUP 74

PARTICIPATING INTERESTS 83

CONTENTS

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INVESTMENTS

CONCENTRATING FOAM COMPETENCY

PLASTICS FOR LIFE

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In summer 2016, Greiner Bio-One broke ground for reconstructing its headquarters in Austria and

opened the Brazil production site in December 2016.

By integrating Greiner Perfoam into Greiner Foam International, all the foam competences of the Greiner

Group are concentrated into one company.

In December 2016, the sustainability strategy was presented to Greiner Group’s top managers. Under the motto “Plastics for Life“, the Greiner Group prescribes sustainable orientation and awareness raising for correct handling of plastics.

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GREINER GROUP ANNUAL REPORT 2016HIGHLIGHTS 2016

INDIA

NEW IMAGE

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Greiner Packaging International has founded a joint venture in New Delhi (India) and thus has entered one of the largest markets for dairy products.

Greiner Extrusion Group – formerly Greiner Tool.Tec – has a new brand image. The new company name reflects the company’s vision to be active in all extrusion areas in the future.

GREINER GROUP STANDS FOR DIVERSIFICATION,

INNOVATION AND GLOBALIZATION. IN THE 2016 FINANCIAL

YEAR, THE GROUP CONTINUED TO DEVELOP IN ALL

THREE AREAS AND HAS THUS TAKEN A SIGNIFICANT STEP

TOWARDS ACHIEVING ITS LONG-TERM GOALS.

HIGHLIGHTS

2016

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GREINER GROUP ANNUAL REPORT 2016FOREWORD BY THE MANAGEMENT BOARD

In the 2016 financial year, we once again took another big step towards our ambitious targets for 2020.

With sales of 1.475 billion euros, Group sales were boosted once again and the number of employees rose

to 9,722. The achievement of our long-term goals is thus one significant step closer to being within reach.

This is made possible by the consistent continuation of the globalization strategy, the further strengthening of

innovation, and the continuous development of product segments in the different business areas.

In spite of this, we are not resting on our success. With the implementation of our Plastics for Life

sustainability strategy, we are taking an important step towards continued positive business development.

We want to actively face up to our responsibility as a plastics processor. In plastics, we see the material

of the future and recognize great potential in sustainable and innovative product solutions that help to

make our customers more successful. In the final analysis however, we are also willing to part ways with

products that do not meet our self-imposed sustainability goals.

Above all, our sustainability strategy is directed inwards. We want our more than 9,700 employees to be

proud of Greiner and what we are doing. Their commitment is the key to achieving our ambitious goals.

We would therefore like to thank all our employees, who again made a great contribution to the positive

business development in 2016. We would also like to thank our customers and partners, who put their trust

in us every day, as well as the members of the Supervisory Board and our shareholders for their partnership.

Axel KühnerCEO

Hannes MoserCFO

GREINER GROUP CONTINUES ON THE ROAD OF SUCCESSTHE GREINER GROUP IS LOOKING BACK ON ANOTHER SUCCESSFUL YEAR. IN ADDITION TO

THE UNFAILING CONTINUED DEVELOPMENT OF THE COMPANY'S STRATEGIC TRIANGLE OF

DIVERSIFICATION, INNOVATION AND GLOBALIZATION, THE PLASTICS FOR LIFE SUSTAINABILITY

STRATEGY IS AT THE CENTER OF ITS ACTIVITIES.

Erich Gebhardt, Chairman of the Supervisory Board | Claus Peter Bernhardt, Deputy Chairman of the Supervisory Board

Regine Hagen-Eck, Supervisory Board | Christoph Greiner, Supervisory Board | Andreas Ludwig, Supervisory Board

Gerald Schinagl, Supervisory Board | Tilman Schad, Supervisory Board | René Wollert, Supervisory Board

Georg Kofler, Supervisory Board, Employee Representative | Maximilian Gressenbauer, Supervisory Board, Employee Representative | Ernst Zimmermann, Supervisory Board, Employee Representative

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GREINER GROUP ANNUAL REPORT 2016FOREWORD BY THE SUPERVISORY BOARD

The Greiner Group has been developing sustainably for 149 years. Diversification, innovation and globalization

form the strategic basis for the Group’s long-term, successful alignment. Internationalization is being pushed

ahead with continuous expansion into fast-growing markets. Concentrating core areas and utilizing synergy

effects and interdisciplinary processes promote innovative capacity and development activity within the group.

Developing individual business areas underlines the diversification. By implementing Plastics for Life, the

topic of sustainability will be placed even more strongly into the focus of activities. The advantages of

plastic as a material of the present and future will be promoted to the public pro-actively. Consciousness

formation for the optimal handling of plastics is one of the most important objectives.

However, sustained commitment can only be achieved if there is a solid foundation. The Greiner Group has a

strong foundation, which has been created over decades through careful and forward-looking management.

Targets were met in the 2016 financial year, surpassing profit earnings for 2015. A motivated and committed

team of employees is actively pursuing these targets, making a significant contribution to the company’s

success with outstanding achievements every day. Therefore, our special thanks go to Greiner Group’s

employees for their commitment as well as to the Executive Board for constructive cooperation and consistent

continuation of the company strategy.

Erich GebhardtChairman of the Supervisory Board

IN 2016, THE GREINER GROUP ONCE AGAIN EXPANDED ITS MARKET LEADERSHIP IN KEY BUSINESS

AREAS. PLASTICS FOR LIFE UNDERSCORES THE COMPANY GROUP’S SUSTAINABILITY ORIENTATION

AND CONTRIBUTES SIGNIFICANTLY TO RAISING AWARENESS FOR THE BEST HANDLING OF PLASTICS.

STRONG FOUNDATION FOR SUSTAINABLE DEVELOPMENT

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GREINER GROUP ANNUAL REPORT 2016VALUES & PHILOSOPHY

GREINER GROUP IS A CLASSIC “HIDDEN CHAMPION”. WHAT BEGAN IN 1868 AS A SMALL GROCERY

AND IRONMONGERY IN NÜRTINGEN (GERMANY) HAS DEVELOPED OVER THE DECADES INTO A

GLOBAL COMPANY WITH 134 LOCATIONS IN 30 COUNTRIES. TODAY GREINER PRODUCTS SUPPORT

THE EVERYDAY LIFE OF PEOPLE ALL OVER THE WORLD, WHETHER IN THE FORM OF THE FOAM

MATTRESS IN THE BED, THE YOGURT CUP AT THE BREAKFAST TABLE OR THE COMFORTABLE SEAT IN

THE TRAIN, TRAM, CAR OR PLANE. ALSO THE BLOOD SAMPLING TUBE USED BY THE PHYSICIAN,

THE DRINKING BOTTLE FOR JOGGING, THE TOOLS FOR PRODUCING PLASTIC WINDOW FRAMES,

THE COMFORTABLE COUCH FOR RELAXING AND TRUNK SYSTEMS IN CARS OFTEN COME FROM

GREINER GROUP, WHICH HAS REMAINED A FAMILY BUSINESS UNTIL TODAY.

TRADITIONAL COMPANY WITH CLEAR VALUES

RESPONSIBLE TO OUR EMPLOYEES, GENTLE TO OUR RESOURCES

As a globally operating group of companies, Greiner Group is aware of its responsibility towards its

employees, customers and the environment. Sustainable action is firmly anchored in the corporate

philosophy and serves as a key to greater efficiency and innovative products.

More than 9,700 people are actively shaping the future of the company. They are the key success factor

for continuous growth and positive corporate development. With five generations of 100% family owner-

ship, the Greiner Group relies on trust, responsibility, and mutual respect. Encouraging and challenging

employees has always been a successful management philosophy. Accordingly, employees profit from

numerous benefits that underscore that the human being is at the center at Greiner.

SUSTAINABILITY IS THE FOCUS OF EVERYTHING WE DO

With “Plastics for Life,” the company is committing itself to a sustainable direction for everything it does.

The focus is on making people more aware of careful handling and controlled use of plastic materials.

The advantages of plastic should be actively communicated, because Greiner’s products create added

value. Plastic packaging makes food last longer. The risk of infection when taking a blood sample is virtually

eliminated by the use of plastic products in the medical sector. People travel by car, train, or plane every

day and thus with vehicles that are efficient and comfortable thanks to innovations from Greiner.

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GREINER GROUP ANNUAL REPORT 2016FOREWORD BY THE BOARD OF FAMILY SHAREHOLDERS

Dear Ladies and Gentlemen,

Greiner Group´s Board of Family Shareholders brings together the interests

of all the owners and represents them to the Supervisory and Management

Boards. As the owner family, we strive to ensure that the Group’s nearly

150 years of steady growth will continue into the future.

We believe in sustainable business development and after decades remain

true to our philosophy, which is embodied by a socially engaged and

employee-friendly company, despite the company’s size and its increasing

expansion to other continents. An orientation towards our central guiding

principles, which form the basis of the Greiner family values, is of particular

concern to us. As a family, we assume responsibility for the company and

for each other. We hold our appreciation for our employees in high esteem

and wish to see that appreciation reflected in management’s interactions

with employees. We count on sustainability in social, environmental, and

economic terms as well as on the sparing use of resources. At the same

time, we want to be open to cultural diversity. We view the appreciation of

others as a prerequisite for a strong sense of togetherness.

The employees of the Greiner Group form the basis of the continued

success of the business. They are the ones following the Group’s strategy

with a focus on globalization, innovation and sustainability, working on its

successful implementation, advancing products and processes through

their work every day, and driving innovation.

We would like to thank the employees of the Greiner Group for their con-

tributions to our success in the 2016 financial year and encourage them to

follow the path paved also in the future.

On behalf of the entire Board of Family Shareholders

Dominik GreinerChairman of the Board of Family Shareholders

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Manfred StanekCEO Greiner Packaging International

Rainer PernekerCEO Greiner Bio-One International

E.g. Packaging for food Packaging for cosmetic products Plastic solutions for toys

E.g. Collection systems for clinic, laboratory and medical practice Sample collection systemsSpecial products for analyzing cell cultures

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GREINER GROUP ANNUAL REPORT 2016DIVISION MANAGEMENT

Michael SchleissCEO Greiner Foam International

Gerhard OhlerCEO Greiner Extrusion Group E.g.

Foams for mattresses, upholstery furniture and aircraft seats Interior and acoustic components for cars Boiler insulation and impact sound insulation

E.g. Machinery, tools and equipment for the extrusion area

PLASTICS AND SUSTAINABILITY

IS NOT A CONTRADICTION

AXEL KÜHNER

CEO GREINER GROUP

JAHRESBERICHT DER GREINER GRUPPE 2016XXX

Joschka Fischer & Company advises companies on the

framework conditions of international markets, future

political and societal challenges as well as sustainable

growth opportunities.

Political and social dimensions of global design tasks

directly influence entrepreneurial action – in the form of

legislation, customer expectations and social groups.

It is important to develop business areas responsibly

and thereby make a positive contribution to sustainable

development. With many years of expertise and personal

experience, Joschka Fischer & Company helps its

customers assess political developments worldwide and

use this knowledge responsibly for sustainable business

development and international growth strategies.

Joschka Fischer & Company GmbH, headquartered

in Berlin and Warsaw, was founded by former Foreign

Minister Joschka Fischer and Dietmar Huber in 2009 and

is part of a strategic partnership with the Albright Stone-

bridge Group, led by U.S. Secretary of State Madeleine

K. Albright in Washington, D.C.

ABOUT

JOSCHKA FISCHER & COMPANY

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GREINER GROUP ANNUAL REPORT 2016PLASTICS FOR LIFE

The current crisis mode of European and transatlantic policy, to which Brexit and the

election of the new American president Donald Trump have contributed, has pushed

the challenges of globally sustainable development from the public agenda. It seems as

if sustainability has lost its relevance. This is a great mistake. Consumption, prosperity,

growth and climate are and will remain immense challenges.

The continued growth of the world’s population leads to a real dilemma between sus-

tained quantitative and qualitative demand pressure and the limited availability of existing

resources. We are talking not only about our European consumerism, but of China, India

and many other countries that have set out to achieve this standard of living. No one

will be able to stop them from reaching that goal. And the environmental and social con-

sequences of this growth will be gigantic.

As a result, companies such as the Greiner Group – and particularly the customers

supplied by the Greiner divisions – are adapting and innovating. That is, the business of

tomorrow. Because even if the international agenda is determined by security questions,

there is an immense pressure to act on local politics. The fine-dust problem in urban

transport, the use of more and more scarce energy resources, the protection of the

world’s oceans, and inefficient waste management are just some examples.

I am therefore of the opinion that the sustainability agenda will be reflected in the most

effective local and national legislation and technological innovations in the future. The

Greiner Group cannot and should not obstruct these trends. For they will have a central

impact on the Greiner Group’s products and markets.

Whether customers and society will positively evaluate plastic material and the products

made from it in the future will essentially depend on two factors: We have to bring plastics

solidly into circulation. And where this is not efficient, reconversion into energy through

combustion must lead to plastic products not being disposed of improperly into nature.

In this way, the future of plastics could even be seen as “green”.

ABOUT PLASTICS FOR LIFE

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Plastics for Life formulates what is often overlooked in public debate: Plastic opens up possibilities. It makes

products affordable, available not only for few but for everyone. It saves weight and is extremely versatile and

can be processed in a nearly infinite number of ways. This core of the success also leads to the challenge:

Rapid global success of plastic products has not been associated with adequate disposal structures in all

countries of the world. Moreover, in this young industry (compared to paper, glass or metals) there are so

far very few solutions for economical recycling.

With the Plastics for Life strategy, the Greiner Group is therefore setting up a framework program

To develop innovative product solutions for the sustainability challenges of our time, e.g. good health

care, climate and environmental protection, sustainable consumption or the fight against food waste.

In line with the “Plastics for Life” claim, the Greiner Group intends to improve life and work worldwide.

To continuously improve working conditions for employees. The goal is to be the best employer at all

locations. The Greiner Group has jobs in a wide range of functions, providing almost 10,000 people

and their families with a secure livelihood.

To use natural resources such as water and raw materials as well as energy as efficiently as possible

and to continually reduce the environmental footprint.

To enter into active dialog with stakeholders, in order to improve the disposal and recycling structures

for plastic products worldwide. One of the most important engagements is participating in the New

Plastics Initiative of the Ellen MacArthur Foundation.

In addition to these central concerns, there are many others, such as extending the sustainability strategy to

risk management, implementing the Zero Pellet Loss initiative at all locations, committing to the local environ-

ment at our 134 locations, or even communicating sustainability more comprehensively. These will be imple-

mented within the framework of sustainability management (see page 19) in the future.

THE ANSWER TO THE QUESTION OF WHAT CONNECTS ALL GREINER GROUP EMPLOYEES

ACROSS ALL DIVISIONS AND CONTINENTS IS OBVIOUS: PLASTIC. THE COMPANIES OF THE

GREINER GROUP PRODUCE PLASTIC PRODUCTS FOR LIFE, I.E. PRODUCTS THAT MAKE

EVERYDAY LIFE EASIER AND BETTER: THE MOTTO “PLASTICS FOR LIFE” WAS DEVELOPED

BASED ON THIS GUIDING PRINCIPLE.

OUR STRATEGY FOR

SUSTAINABLE GROWTH

In the future, Greiner Group’s working groups on products, employees,

supply chains, environment and resources, social commitment/

stakeholder dialog will advise the Sustainability Council and define

common objectives. The focus is on general and high standards

for occupational safety and environmental protection, as well as a

risk assessment of purchasing, establishment of sustainability in

the product innovation process, as well as transparent dialog and

exchange. Employees and interested parties will be provided with a

uniform picture of what sustainability means to the Greiner Group and

how the divisions implement this with their products. Therefore, the

Greiner Group as a central part of value chains in the area of con-

sumer goods, mobility and health can help ensure that plastics are

produced sustainably, used more efficiently, and ideally exploited.

FUTURE OBJECTIVES

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FOR LIFEMANAGEMENT APPROACH

With the Plastics for Life strategy, the Greiner Group has provided guidelines for product development and pro-

duction, which together with the international expansion strategy define its scope of action. These products must

offer good solutions – in plastic. Innovations are intended to at least contribute to reducing the undesired effects on

humans and the environment, at best to avoid them completely.

In order for plastics to be recognized as vital, it is necessary to deal with many fields of action. The Greiner Group

has discussed what this involves in internal workshops with employees from all functional areas and divisions.

At the same time, we took the entire value chain into account. We compared the findings with the requirements

of external stakeholders – from customers to civil-society organizations, politics and science. As a result, the

corporate group will be guided by all those topics that have been defined as essential: from employee satisfaction

through product innovations, quality and safety to design for recycling. We will review these guidelines regularly

in the future.

PEOPLE – PLANET – PROFIT

The sustainability strategy of the Greiner Group is based on the three pillars “People“, “Planet“ and “Profit.“

For the Greiner Group, this means:

PEOPLE: A fair partnership with employees, customers and suppliers.

PLANET: Efficient production in harmony with the environment and society.

PROFIT: The development of innovations that make the company and customers more successful in the long term.

In the interaction of the three components, sustainability can be experienced and room for innovative solutions

can be introduced. Together with former German Vice Chancellor and Foreign Minister Joschka Fischer, relevant

topics have been elaborated and goals defined. As an important part of the value chain, Greiner Group is

actively engaged in its responsibility as a plastics processor and is also prepared to separate itself from

products that do not meet the self-imposed sustainability targets. Plastics for Life is an ongoing process that

is developed under certain minimum standards together with employees in the divisions.

ORGANIZATIONAL AND MANAGEMENT STRUCTURES FOR COMPANY-WIDE IMPLEMENTATION

The basic principles of the Plastics for Life strategy are now being implemented by Greiner Group’s Executive

Board with the participation of all divisions. This means that at the Greiner Group sustainability has top priority

and at the same time is a decentralized guiding principle. In order to achieve this link, Greiner Group has

created a Sustainability Council and assigned specialist working groups, which allow close integration with the

Group’s global network of locations.


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CONTRIBUTIONS OF OUR PRODUCTS

The United Nations has adopted a 2030 Agenda for Sustainable Development.

The Agenda provides the basis for shaping global economic progress in

accordance with social justice and within the environmental boundaries of the

earth. The World Community has provided 17 goals for sustainably developing

five guiding principles (Sustainable Development Goals – SDGs): People, Planet,

Prosperity, Peace, Partnership.

In the sense of a global partnership, all countries are now called upon to

contribute to achieving the objectives and core messages. This appeal is also

addressed to the economic community.

Greiner Group wants to make its contribution to the Plastics for Life strategy with

its products. Sustainability management is designed to reduce unwanted effects.

PEOPLE: All Greiner products are designed to make people’s lives better.

PLANET: Greiner Group’s products are intended to contribute to limiting

climate change. Where products have undesirable effects (gar-

bage, pollutants), solutions must be found.

PROSPERITY: Greiner Group offers 9,722 people in 30 countries safe jobs and

employment. The products, which are less expensive than other

materials, contribute to the fact that more people can participate

in economic, social and technical progress.

PEACE: In the future, the Greiner Group will be even more concerned with

and try to exert a positive influence on the supply chain and the

people concerned.

PARTNERSHIP: Free world trade is an essential means for a peaceful and

partnership-based co-existence. Employees from varied nations

all work together effectively.

FOR SUSTAINABLE DEVELOPMENT

Rubber was discovered by researchers in the 17th and 18th centuries.

Based on this discovery, the rubber industry was established in the

mid-nineteenth century – which was the beginning of the plastics age.

In 1839, Charles Goodyear discovered that natural rubber is transformed

into rubber by the action of heat and the increase of sulfur. The process of

vulcanization was born. On the basis of further research, he also discov-

ered hard rubber, which is now known as a thermoset. From that, among

other things, jewelry and telephone parts were produced.

In the middle of the 19th century, the first thermoplastics, better known

as celluloid, were produced. Also the development of viscose fiber and

the production of collodion (elastic cuticle) occurred during this time.

The first “real“ plastic was invented by John Wesley Hyatt in 1870, when

he was looking for a substitute for producing billiard balls made of pre-

cious ivory. Further breakthroughs followed in the industrial production of

synthetic thermosets. PVC was also discovered.

German chemist and Nobel laureate Hermann Staudinger is considered

the founder of polymer chemistry. In 1917, he elucidated the exact long-

chain molecular structure of plastics. Through this discovery, the plastics

industry could develop better manufacturing processes and the triumph

of plastic began.

THE HISTORY OF PLASTICS

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A life without plastic sounds environmentally friendly and sustainable. Without the

invention of the material, however, many areas of civilization would have developed

quite differently. A renouncing of the versatile material is no longer conceivable

today. Whether in technology, communication, medicine, in terms of residential or

travel comfort – plastic plays a central role in nearly all areas of daily life. The fu-

ture needs innovative materials. Mobility is already benefiting today from the rising

use of plastic parts in aircraft and cars, which significantly reduces weight and

saves fuel. The medical sector, where hygiene has top priority, cannot dispense

with plastic. Plastic packaging extends the shelf life of food, which can reduce

food waste. The higher weight of glass packaging, for example, significantly

increases energy consumption during transport.

AWARENESS FOR CAREFUL PLASTICS HANDLING

Nevertheless, it is absolutely necessary to use plastic material carefully.

It must not be tolerated that millions of tons of plastic waste are still being

disposed of in the environment as a result of poor or missing recycling

logistics or carelessness. Rather, the careful handling of plastic must become

a matter of course.

THE WORLD OF PLASTICS

Nowadays, plastics are known as materials that are artificially produced in

whole or in part and have a polymeric molecular structure. The plastics

success story began 150 years ago. Both the substances and the process-

ing still have enormous potential. Technological development will continue to

advance in the future and will lead to new innovations.

MATERIAL OF THE


TEACH FOR

Teach for Austria is part of the global

Teach For All network and advocates

equality of opportunity for pupils

regardless of their parents’ income and

status. The organization recruits and

educates young, talented university

graduates in all fields of study so they

can be given teacher training for two

years as part of a fellowship program.

The aim of the program is to improve

the equality of opportunities in educa-

tion. Greiner Group has been sup-

porting the initiative since 2016 as an

expansion partner for Upper Austria.

www.teachforaustria.at

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THE TOP TALENT PROGRAM

CAP. offers AHS upper-level students from Upper Austrian schools mechatronics courses parallel

to high school. Generalist technical training, with a hands-on oriented apprenticeship, prepares

young people for later studies and their profession. The main objective of CAP. is to bring young

people to the challenges of economic life and enable companies to have opportunities for contact

with young people possessing a variety of “skills“.

Greiner Group has been an industrial partner of the program since 2011. In addition to financial

support, every year Greiner Group offers young participants the opportunity to immerse them-

selves in the world of plastics. Following a company tour at the Kremsmünster site, the so-called

“CAP.tains“ are able to participate in the training workshop and, for example, try to weld plastic.

CAP. students have already completed practical internships at home and abroad as well as project

assignments at Greiner. In the summer of 2016, for example, a participant was able to test her

knowledge and skills based on lessons in practice at Greiner Packaging Estonia.

www.cap-future.eu


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PROJECT

HOUSES MADE OF PET BOTTLES FOR UGANDA

The Social Innovation Academy (SINA) is a unique learning location in Uganda,

which provides all the necessary prerequisites for disadvantaged young

people to become successful social entrepreneurs. Waste is seen as a useful

resource for innovative projects; for example, houses are being built from

PET bottles. Young people learn plastic bottle construction technology in the

academy and are encouraged to start their own social business.

THE IDEA

Uganda’s population is growing rapidly. Each year 150,000 new houses are

needed. Construction material is expensive, resources in the East African

country are scarce. However, plastic bottles are a nearly infinite resource.

Bottles that are not burned lie all over the ground, they only have to be col-

lected. For building a house, they are filled with clay. After drying, the bottles

are as hard as bricks. The side walls are stacked and fixed in place using cords.

Gaps are filled with cement, corrugated cardboard or straw serves as a roof.

This way of creating a house is many times less expensive than constructing

with conventional building material. This form of upcycling makes a significant

contribution to sustainable house construction in Uganda, and it also succeeds

in tackling youth unemployment in the long term. Greiner Group has been sup-

porting this innovative project since 2016. Thanks to this support, a house for

training purposes was built in 2016.


Innovation has become a catchphrase, which is now far beyond the technology sector in every economic sector.

Innovative processes place very special demands on a company, from the structures and processes that support

cooperation between different areas and hierarchical levels to necessary financial and temporal resources to

corporate strategy, in which innovation is firmly anchored as a strategic pillar. Within Greiner Group, the topic

of innovation – along with globalization and diversification – is one of the three strategic pillars that has long

been a central focus. At Greiner Technology & Innovation GmbH, threads are converging for Greiner Group’s

successful innovation management.

INNOVATION MANAGEMENT AT GREINER

Access to the topic of “innovation“ is a broad one, ranging from product and process innovations to ingenious

business models. Due to diversification within the company group and close customer contact, it is possible to

identify trends at an early stage. It is clearly the focus of innovation projects to set and shape trends actively

instead of being “followers“. Successful innovation management at Greiner requires controlling impulses

that come from the organization itself as well as those from outside. In this way, employees’ ideas are internally

collected, bundled and further developed. On the other hand, contact with the start-up scene is continually

sought and maintained.

GTI: “WHERE FUTURE HAPPENS“

Since 2014, Greiner Technology & Innovation GmbH (GTI) has been responsible for managing innovation at the

Group level. This subsidiary, which is completely independent of everyday business, manages innovation and

trends. In order to reconcile innovations successfully with the core business, two competencies must be imple-

mented in a balanced relationship: On the one hand, existing skills, products and processes must be constantly

improved; on the other hand, new success potentials must be explored and radical process or product innova-

tions developed. The team at GTI is therefore constantly required to successfully manage the tension between

THE ENGINE THAT DRIVES THE FUTURE

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stability and efficiency while keeping change and innovation in mind. In close cooperation with the operating

divisions, the innovation activities of the Greiner Group companies are constantly standardized, structured and

systematically implemented. Greiner Group’s business environment is regularly scanned, trends are recognized

at an early stage, and potential for success is made visible. Contact with the start-up scene is constantly

sought. GTI is not only responsible for innovation management, but also coordinates the entire Group’s patent

and funding management.

GREINER INNOVATION COMMUNITY

With the Greiner Innovation Community, an online platform created across all locations and divisions allows Greiner

Group employees to network worldwide and contribute their ideas. There is no limit to the possibility of global,

cross-divisional exchange. Ideas not directly connected to Greiner Group’s products or business areas may also

be posted. This online platform community makes it possible to gather numerous ideas on a wide range of topics,

which registered users can like or comment on. At the annual management meeting with 140 top Greiner Group

executives from all over the world, up to ten ideas are presented in the form of 90-second pitching. The most

promising idea is further developed into a concrete project. The Community’s range of ideas is very broad, ranging

from the optimal design of the future workplace and applications that optimize physician/patient communication to

proposals for senior-oriented food packaging. In addition, numerous ideas on sustainability are introduced.

INNOVATION AND SUSTAINABILITY

Within Greiner Group, innovation is not only a significant strategic pillar but also a key aspect of sustainability.

Innovations not only play a decisive role for sustainable development but also for shaping the future. Ideas

that lead to progress in the sense of tenability offer great potential because new solutions also can be used to

increase sustainability. If, for example, it is possible to extend the shelf life of foodstuffs considerably by means

of innovative plastic packaging, it will make a significant contribution to the avoidance of food waste.

29


WITHIN THE FRAMEWORK OF THE MINISTRY OF THE ENVIRONMENT’S KLIMAAKTIV PAKT2020, FUTURE- ORIENTED LARGE-SCALE ENTERPRISES VOLUNTARILY COMMIT THEMSELVES TO MEETING THE AUSTRIAN CLIMATE GOALS.

30

31


The klimaaktiv pakt2020 creates lighthouses for operating climate protection with eleven

leading Austrian companies. It is Austria’s climate pact for large companies and brings

together the most committed companies in Austria. As a pioneer of occupational climate

protection, pact partners commit themselves voluntarily and bindingly to reach the Aus-

trian climate goals by 2020 (base 2005). These are:

16% reduction of greenhouse gas emissions

20% increase of energy efficiency

34% share of renewable energies in total energy consumption

10% share of renewable energies in the traffic sector

With the climate-friendly pakt2020, the Ministry of Life has created an alliance of pioneer

companies and under the professional supervision of the largest Austrian climate protection

network is turning them into public models and pioneers for climatically tolerable economies.

GREINER PACKAGING – ONE OF 11 PARTNER COMPANIES

A total of eleven leading companies were able to qualify for participation in the klimaaktiv

pakt2020. Together, they form one of the spearheads of Austrian climate protection

activities. Greiner Packaging Austria joined the climate protection network in 2013

and has committed itself, with its three Austrian sites Kremsmünster, Wartberg and Wern-

berg, to voluntary and binding compliance with the Austrian climate goals.

AMBITIOUS GOALS AND MEASURES

With the exception of the share of renewable energy in the transport sector, where the

target is the Austrian minimum target, Greiner Packaging Austria has set its minimum

targets to far exceed the Austrian targets by 2020. The database used for calculating

the targets by 2020 is the year 2005.

The most recent measures include renewing the complete heating control system and

optimally integrating the compressed air station’s heat recovery into the system at the

Kremsmünster site. Most heating systems have been replaced with high efficiency

pumps. Total savings are around 800,000 kWh/year. Due to retrofitting of room-controlled

hall ventilation in Kremsmünster, a total saving of around 170,000 kWh/year was

achieved. In order to achieve the CO2 targets, all Greiner Packaging Austria employees

who drive a company car completed a fueling session with a certified gas savings trainer.

For 2017, a personal gas savings goal was determined for each employee.

PAKT2020


With the corporAID Platform for

Business, Development and Global

Responsibility, ICEP provides the

industry with a platform for information,

communication and mainstreaming

its social responsibility. Furthermore,

it places global poverty control on

the agenda of Austrian companies.

CorporAID is an ICEP initiative.

Greiner Group has been a partner of

the corporAID platform since 2015.

32

www.corporaid.at


33

OPTIMAL COMPATIBILITY BETWEEN FAMILY AND WORK

Making family commitments with professional challenges is not always easy. By launching the Greiner Day

Care in 2003, Greiner Group has taken a pioneering role as a family-friendly employer.

At the company’s Kremsmünster headquarters, employees and parents from the region have a flexible and

versatile childcare facility for one- to three-year-olds. In co-operation with the “Drehscheibe Kind” association,

the youngest are cared for by pedagogical staff in two day care groups. The 160m² playground allows the

children to enjoy a wide range of games and activities. The outdoor area has a well-equipped playscape with

a spacious terrace, playground with swings, climbing tower and sandpit. Financially, the establishment is

supported by the town of Kremsmünster, the state of Upper Austria and Greiner Group. The opening hours

of the nursery are adapted to the needs of the working parents in order to provide optimum compatibility

between work and family.

SUPPORT ALSO IN THE SUMMER

Often, childcare during the summer months is a special challenge for working parents. Therefore, the

Greiner Group has been offering holiday care in August for over a decade. For children between three and

ten years old, there are hikes, field trips and special activities on the program. Greiner Group employs over

2,300 employees from Upper Austria, of whom more than 1,000 employees are based in Kremstal.

GREINER

33


WELL, IF YOU THINK THAT SUSTAINABILITY IS JUST ABOUT MATERIALS, TECH-

NOLOGIES OR BUSINESS, I THINK YOU ARE WRONG OR AT LEAST A LITTLE BIT

SHORT-SIGHTED. BECAUSE IN THE END, IT'S ALL ABOUT PEOPLE, ABOUT US,

ABOUT THE QUALITY OF OUR LIFE AND OF COURSE ABOUT THE QUALITY OF LIFE

OF OUR CHILDREN. AND THIS IS WHAT MAKES IT SO DIFFICULT BECAUSE FORE-

MOST, WE HAVE TO START TO CHANGE OUR MIND SET. AVOIDING THE DAMAGE

OF OUR PLANET WITH BETTER PRODUCTION TECHNOLOGIES OR REDUCING THE

WASTE OF RESOURCES WITH MORE EFFECTIVE LOGISTICS, MAYBE EVEN FINDING

NEW METHODS FOR RECYCLING BASED ON BIOENGINEERING. ALL THESE ARE

AREAS THAT SHOW THAT THERE IS A HIGH POTENTIAL, BUT ALSO A STRONG

NEED FOR INNOVATION. WE JUST HAVE TO EMBRACE IT.

GERFRIED STOCKER, ARTISTIC DIRECTOR

34

35


ABOUT GERFRIED STOCKER

Gerfried Stocker is an artist and telecommunications engineer. In 1991 he founded x-space, a team

for realizing interdisciplinary projects, which has implemented numerous installations and performance

projects in the field of interaction, robotics and telecommunications. Gerfried Stocker has been

artistic director of Ars Electronica since 1995. In 1995/96 he and a small team of artists and

technicians collaborated to develop the pioneering new exhibition strategies of the Ars Electronica

Center and set up a research and development department, the Ars Electronica Futurelab. Under

his leadership, the program for international Ars Electronica exhibitions was established in 2004 and

the planning and repositioning of the new and expanded Ars Electronica Center was started and

implemented in 2005.

ABOUT ARS ELECTRONICA

Ars Electronica is a world-wide platform for digital art and media culture. Supported by the four pillars –

Ars Electronica Center, Ars Electronica Futurelab, Ars Electronica Festival and Prix Ars Electronica – it

is now an international showcase of Linz, the Upper Austrian provincial capital.

Ars Electronica Center is a prototype of the “museum of the future“. With its interactive communication

forms, virtual reality, digital networks and modern media, it addresses a broad public. The house was

extended during the 2009 Capital of Culture event. In the new Ars Electronica Center, the combination

of experience-oriented mediation with topics like “Life Sciences“ forms a bridge between art, technolo-

gy, science and society.

In addition to the cultural and societal consequences of digital media, topics presented include tech-

nology and natural sciences. This development makes new research collaborations and laboratories

necessary. The heart of this is the Futurelab. A media art laboratory that inspires artistic and techno-

logical innovation. Visible results of this mutual inspiration of art and science are in every respect the

“new images of man“. Since 1979, the Ars Electronica Festival has devoted itself annually to artistic

and scientific confrontations surrounding social and cultural phenomena.

As the world’s most important competition for cyber-arts, Prix Ars Electronica has been a forum for

artistic achievements and innovations since 1987.

GREINER AND

AS THE MAIN SPONSOR, GREINER GROUP SUPPORTS THE “RADICAL ATOMS“ EXHIBITION,

WHICH SHOWS HOW IDEAS DERIVED FROM ART LEAD TO NEW TECHNOLOGICAL

CONCEPTS. THE EXHIBITION WAS INTRODUCED AT THE ARS ELECTRONICA FESTIVAL

IN 2016 AND CAN BE SEEN AT THE ARS ELECTRONICA CENTER.

36


The mechanism of the dialog – For the first time, a group of leading com-

panies and cities from the global value chain come together to carry out

joint demonstration projects.

Global Plastics Protocol – A rethinking of plastic packaging materials,

formats, systems and standards for post-use, to achieve an economically

and environmentally attractive target state, which is further developed with

innovations.

Innovation leaps – Mobilizing targeted innovation leaps, focusing on

system-wide solutions that offer global-scale potential.

Evidence foundation – Closing crucial knowledge gaps by building an

economic and scientific evidence base, from which findings are obtained.

Contact – Participation of a wide range of stakeholders, including citizens,

teachers, students, decision-makers, non-governmental organizations

and industry associations, in redesigning a better system.

THE FOCUS OF THE INITIATIVE IS ON FIVE

INTERRELATED BASIC COMPONENTS:

36

37


Since 2016, Greiner has been working in partnership with the Ellen MacArthur Foundation

on the “New Plastics Economy“ initiative. Building on recommendations of the report

“The New Plastics Economy: Rethinking the Future of Plastics“ presented January 2016

at the World Economic Forum in Davos, the “New Plastics Economy” is a three-year

initiative that takes the first concrete step towards designing a plastic system based on

the circular economy principle. The “New Plastics Economy” initiative has set an explicit,

systematic and common approach for overcoming the barriers to incremental improve-

ments and separate initiatives that have not led to any significant impact in the past

40 years. With this partnership, Greiner Group proves once more that the company

has committed itself to a leading role in the area of sustainability.

ABOUT THE ELLEN MACARTHUR FOUNDATION

The Ellen MacArthur Foundation was founded in 2010. Its goal is with the help of the

circular economy idea to stimulate a generation to shape a better future through rethink-

ing and new development approaches. The benefit and value of products, components

and materials should be maintained at the highest possible level at all times. To demon-

strate the relevance of this work, the Foundation cooperates with academic institutions,

companies and governments.

THE NEW PLASTICSTHE INITIATIVE

38


The Greiner Group relies on trust, responsibility and mutual

respect. Encouraging and challenging employees is the focus

of the successful management philosophy.

People take center stage! This motto is lived every day at

Greiner. At Greiner, mature and self-confident employees

are actively involved in the company’s further development.

Greiner is therefore committed to providing its employees

with the general conditions required for individual training

and development.

GREINER ACADEMY

For already more than ten years, the Greiner Academy has

stood for high-quality advanced training within the Greiner

Group. As a group-internal institution, it supports employees

and executives in their personal development. Innovation and

long-term competitiveness need creativity and the courage

to leave well-trodden paths. Greiner Academy teaches

know-how and methods so that an idea can emerge from

something concrete – an innovative product, a new business

model, or even improvements in processes and organization.

Training offerings spanning divisions and countries not only

ensure the corresponding technical and methodical know-

ledge, but also a view beyond cultural horizons.

FOCUS ON


COMMITMENT TO EMPLOYEE

AND HEALTH

Safety and health at the workplace are central issues for every employee – and, of course, for Greiner Group

employees. For companies, costs for accident and illness-related downtime are enormous financial expenses.

The interest in safe and healthy jobs is therefore equally important for companies and employees alike.

FEEL-GOOD FACTOR WORK ENVIRONMENT

Only when the work environment meets the physical and psychological needs of the human being can a

person feel comfortable in his workplace. After all, we spend a lot of our time at work, and we should be able to

return home safely and healthy. Reducing downtime because employees stay healthy and safe workplaces also

bring substantial savings potential for the company. Greiner Group’s comprehensive commitment to protecting

workers and health is reflected in a large number of measures in the factories.

FOCUS ON SAFETY AND HEALTH

Designing ergonomic workstations in both the production and office areas is one of Greiner’s main focus areas.

Both new and existing jobs must take ergonomic aspects into account as much as possible. A good workplace

motivates employees and ensures less downtime due to illness. In addition, central aspects for more safety at

work are concentrated under the motto “Safe Living”. These include, for example, standardized procedures for

post-processing unsafe situations and accidents, raising employee awareness in terms of protection against

dangers or strengthening a leadership culture that promotes safety and health. Active preparation of legal foun-

dations is another focal topic. New legal requirements are constantly being collected and in the future forwarded

to the responsible contacts within the Group via IT-systems so that legal security and risk minimization can be

ensured. A fourth focus fulfills age-appropriate requirements for the workplace. In order to ensure age-indepen-

dent performance for all employees aged 15 to 65, the age-group-specific need for safety and health must be

recognized and appropriate measures implemented. These include promoting occupational health promotion or

prevention programs.

39

In 2015, Greiner Packaging Austria together with 20 other companies in the

chemical industry joined the “Zero Pellet Loss“ initiative between the Ministry

of Life and the Association of the Austrian Chemical Industry (FCIO). Within

the framework of the pact, internal measures are being taken to reduce the

loss of raw materials in water bodies.

The reason for the self-commitment was a study by the Umweltbundesamt

(National Environmental Office), which examined plastic in the Danube.

90 percent of the input comes from non-industrial sources, largely recycled

plastic waste. According to estimates by the European Environmental

Agency, some 10 million tons of plastic waste are generated each year in

the world’s oceans. It is assumed that about 80 percent of that enters the

sea from the land. The main entry paths are, of course, large rivers and

the Danube also plays an important role.

Plastic losses from industry (so-called “plastic pellets“) contribute about ten

percent to the Danube’s plastic freight. On average, this means that around

five kilograms of raw plastic material enter the Danube every day from plants.

The goal of the initiative – to reduce the loss to less than one kilogram per

day – was achieved after one year. Numerous measures, such as screening,

reversing or training, have been part of the company’s daily routine. Greater

awareness, rigorous implementation of individual measures and precise

internal controls carried out within the framework of the pact have significantly

increased the measures’ efficiency.

ZERO PELLET

40

ENTREPRENEURSHIP AWARD


An international prize for sustainable business is awarded annually under the motto “Sus-

tainability is in our hands.“ SEA seeks companies worldwide that have recognized a social

problem and are linking their solution with an innovative, profitable business idea. Regard-

less of company size, sector or country, ideas, projects and business models can be sub-

mitted for sustainable entrepreneurship. This gives companies a large, international platform

that provides important impetus. Greiner Group has been a partner of SEA since 2015.

Most projects submitted to SEA are innovative in terms of sustainability. In the “Plastics and

Recycling“ category, for example, a project that won in 2016 aimed at transforming plastics

production into a green recycling model. Full Cycle, a patent-pending process, converts

organic, non-edible waste and cellulose waste, e.g. food, agricultural products, biological

by-products, cardboard and paper waste, into a cost-effective, compostable variant of

bio-plastics.

www.se-award.org

41

THE STRATEGY OF PROFIT-ORIENTED GROWTH

IS KEPT IN FOCUS

THE STRATEGY OF PROFIT-ORIENTED GROWTH

IS KEPT IN FOCUS

„HANNES MOSER

CFO GREINER GROUP

44

GREINER GROUP ANNUAL REPORT 2016MANAGEMENT REPORT

SOLID GROWTH DESPITE POLITICAL UNRESTTHE POLITICAL FRAMEWORK CONDITIONS IN EUROPE (BREXIT), RUSSIA AND TURKEY HAVE NOT SERIOUSLY

AFFECTED GLOBAL ECONOMY DEVELOPMENT. GLOBAL ECONOMY GREW BY 2.2 PERCENT IN 2016 COMPARED

TO THE PREVIOUS YEAR. WEAKER ECONOMIC DEVELOPMENT IN THE U.S. AND THE CONTINUING RELUCTANCE

OF U.S. AND EUROPEAN COMPANIES TO INVEST DID NOT PREVENT THEIR GROWTH.

The economic situation in the EURO-

ZONE remained stable in 2016, al-

though the political framework cast

a shadow over the European Union.

The result of the British referendum

about Great Britain remaining in the

European Union as well as the refer-

endum on the constitutional change

in Italy, which ultimately forced

Prime Minister Renzi to resign, led

to a destabilization of the European

idea. Contrary to expectations, both

political decisions have not had such

a serious impact on the European

economy as predicted at the outset.

The economy of the Eurozone

showed robust growth of 1.6 percent

over the previous year. This develop-

ment is mainly attributable to private

consumption and the growing willing-

ness to invest in European industry.

The German economy was the most

stable with a growth of 1.8 percent.

Spain’s economy showed the biggest

growth of 3.2 percent compared to

the previous year as a result of labor

market reforms that were launched

some time ago. The problem child

is still Greece which, as before, de-

pends on EU member states’ financial

support. The United Kingdom record-

ed export growth following the referen-

dum due to the weak pound sterling.

The risk of deflation declined in 2016

because price developments were

less influenced by oil price alterations.

As far as fiscal policy is concerned,

the European Central Bank remains

on an extremely expansive course.

This led to a further depreciation of

the Euro against other key currencies

in 2016. Due to the strengthening

of the U.S. dollar, especially during

the second half of 2016, the two

currencies moved to parity. Last year,

the European Central Bank signaled

extending the investment program

to 2017, but reducing the volume.

Contrary to the development of the

Eurozone is the fact that countries

such as France, Italy and Portugal still

do not meet the debt-to-GDP ratio of

the Stability and Growth Pact.

CENTRAL AND EASTERN EUROPE

Economic growth in the Central and

Eastern European countries remained

stable in 2016. On average, the

countries of the region are growing

faster than the euro area as a whole.

Except for CIS countries, growth is

mainly due to increased wage levels

and the resulting higher private con-

sumption. Poland’s economy grew by

2.8 percent slightly slower compared

with previous years, due to lower EU

45


investments. In Russia, which still has

sanctions, the economy recovered

better than expected. The causes

were, on the one hand, the rise in the

crude oil price and the falling inflation

rate. This development led the Russian

central bank to cut the key interest

rate to 10.5 percent.

EXCITING DEVELOPMENT THROUGH

TRUMP’S ELECTION IN THE U.S.

After Donald Trump’s election victory,

there was a noticeable uptick in the

US economy. Many investors hope

that implementing Trump’s electoral

promises would strengthen the US

economy through in-depth reforms.

Compared to the previous year, the

U.S. economy had relatively low

growth at 1.6 percent, resulting from

the restraint of corporate investment

and the weak economic development

of emerging markets. In December, the

American central bank FED decided to

raise interest rates and strengthened

the U.S. dollar against the euro. At

the end of 2016 both currencies had

nearly reached parity.

DEVELOPMENT OF

EMERGING MARKETS

The political development in Turkey

placed a massive burden on the

Turkish economy. In 2016, the lira lost

value against the euro. High current

account deficit, high crude oil prices

and a persistently tense political situ-

ation had a negative effect by the end

of the year and increased the risk of

a recession. In China, stimulus mea-

sures such as interest rate cuts and

liquidity subsidies were used to reach

the planned growth of 6.5 percent

compared to the previous year.

EXPANSIVE FISCAL

POLICY IN EUROPE

PREVENTS FURTHER

GROWTH.

INTEREST RATE

INCREASE IN THE

U.S. STRENGTHENING

THE CURRENCY.

46


EUROPE NORTH AMERICA ASIA SOUTH AMERICA REST OF WORLD

2016 1,106 154 148 43 23

PY 0 % + 9 % + 15 % + 32 % - 15 %

GREINER GROUP GPI GBO GFI REST OF WORLD

2016 1,475 581 452 364 79

PY + 2 % + 4 % + 6 % - 4 % 0 %

2016 ACTUAL (2016 share of turnover in %) in EUR millions, joint ventures prorated.

2016 ACTUAL (2016 share of turnover in %) in EUR millions, joint ventures prorated.

REVENUE BY REGION

REVENUE BY DIVISION

SHARE

SHARE

75 %

100 % 39 % 31 % 25 % 5 %

10 % 10 % 3 % 2 %

47


REVENUE:

1.475 BILLION EUROS

CASH FLOW:

148 MILLION EUROS

INVESTMENTS:

101 MILLION EUROS

CONSTANT DEVELOPMENT

IN ALL AREAS

Greiner Group, which combines four

operating divisions (Greiner Pack-

aging International GmbH, Greiner

Bio-One International GmbH, Greiner

Foam International GmbH and Greiner

Extrusion Group GmbH) under one

roof, reached all its targets in the 2016

financial year. The Group’s sales in-

creased by 2.4 percent to 1.475 billion

euros in 2016 (PY 2015: 1.441 billion

euros). Cash flow rose compared to

the previous year by 16 million euros

to 148 million euros (PY 2015: 132

million euros). All investments made

during the 2016 financial year were

again financed from cash flow. In

2016, Greiner Group invested 101

million euros in fixed assets (PY 2015:

94 million euros). At 134 locations in

30 countries around the world, a total

of 9,722 persons are employed

by Greiner Group (PY 2015: 9,299

persons). As of December 31, 2016,

Greiner Group employed 2,484 em-

ployees in Austria, 5,635 employees

in the rest of Europe, 769 employ-

ees in Asia, 573 employees in the

NAFTA-region, 185 employees in

South America and 76 employees in

the rest of the world.

RISING COMMODITY PRICES

As plastic processor and foam pro-

ducer, Greiner Group is strongly de-

pendent on the development of crude

oil prices. Due to OPEC countries

easing crude oil production, the price

of a Brent crude oil barrel remained

low at the beginning of the year

(lowest on February 9 at US$28.49

per barrel) and rose during the year.

At the end of the year, one barrel of

crude oil cost up to US$54.06 (De-

cember 28, 2016). The price situation

POSITIVE DEVELOPMENT IN ALL DIVISIONSTHE 2016 FINANCIAL YEAR WAS AGAIN VERY SUCCESSFUL FOR THE GREINER GROUP. THE CONTINUATION

OF THE EXPANSION STRATEGY, FOCUS ON INNOVATION AND SUSTAINABILITY PAVE THE WAY FOR FURTHER

GROWTH. FINANCIAL TARGETS WERE ACHIEVED AND EVEN EXCEEDED IN SOME AREAS.

48


Joint ventures prorated.

EMPLOYEES BY DIVISION

for raw materials based on crude oil,

such as toluene diisocyanate (TDI),

intensified in the third and fourth

quarters due to the failure of the BASF

plant in Ludwigshafen as well as the

simultaneous revision of another plant

and further force majeure reports.

GROWING DEVELOPMENT OF

RELEVANT CURRENCIES

Greiner Group pursues the philosophy

of producing for the local market

in a country. This results in natural

currency hedging. Nevertheless,

partial commodities are purchased in

foreign currencies and influence the

result depending on the development.

Greiner Group tries to hedge against

currency risks by using financial

instruments. The development of the

Turkish lira and the South African rand

to the Euro had a negative effect on

earnings development of production

sites in Turkey and South Africa in the

2016 financial year.

GOOD DEVELOPMENT OF THE DIVI-

SIONS DESPITE PARTIAL DIFFICULT

CONDITIONS

Raw material prices, foreign currency

developments, weak sectors and

difficult political conditions influenced

the business development of the

divisions. Nevertheless, all the divi-

sions reached their goals and even ex-

ceeded them. The focus of the branch

companies was clearly on intensive

market development. The result was

new, exciting customer orders and

thus new possibilities to demonstrate

the innovative power as well as the

possibility of opening up new market

areas. Implementation of innovation

management brought the develop-

ment departments of the divisions

even closer together. This enabled

new synergy effects to be exploited

and the degree of innovation within

GREINER GROUP GPI GBO GFI GEG

2016 9,722 4,474 2,057 2,318 782

PY + 5 % + 10 % + 5 % - 3 % - 4 %

SHARE

100 % 46 % 22 % 24 % 8 %

49


the Greiner Group to be increased.

Organizationally, Greiner Group was

streamlined inasmuch as Greiner

Perfoam, which until the summer of

2016 was run as a separate division,

was integrated into Greiner Foam

International. The integration is of

strategic importance, because foam

products are becoming increasingly

important in the automotive industry.

All foam activities of the Group are

concentrated in Greiner Foam Inter-

national. Michael Schleiss, previously

head of the Greiner Perfoam division,

took over the management of Greiner

Foam International from Manfred March-

graber, who retired. Greiner Packaging

International also saw a change in

its top management. Manfred Stanek

took over the management of the

division from Willi Eibner.

FURTHER EXPANSION

STEP TO INDIA

After Greiner Bio-One International

was already present in India with a joint

venture (sales office), Greiner Packag-

ing International also founded a joint

venture with a local packaging manu-

facturer in the summer of 2016. Even

though the Indian market is difficult to

handle due to the challenging infra-

structure, the demand for high-quality

products is growing continuously.

Greiner Bio-One International took over

a long-standing sales partner in Italy

and thus integrated distribution for Italy

into its own organization. In addition, a

sales office was established in Turkey.

Furthermore, Greiner Bio-One Interna-

tional initiated the takeover of a long-

term sales partner in Spain in 2016.

Possible acquisitions in the packaging

sector in Russia, as well as in the area

of Greiner aerospace in Germany and

Bosnia-Herzegovina were examined

and prepared for closing in the first

half-year 2017.

FOCUS ON SUSTAINABILITY

In 2016, the sustainability strategy

was presented, which will be imple-

mented in the organization in the next

few years, but should also be actively

communicated to stakeholders. As a

plastic processor, Greiner Group feels

responsible for the correct handling

of plastics. Adaptation of the product

portfolio, more innovations in the

sense of sustainability and further

development of the highest environ-

mental standards in production are

just a few ways the Greiner Group

will set a good example.

OUTLOOK FOR 2017

The first quarter of 2017 has gotten off

to a great start. 2017 is about integrat-

ing new acquisitions, developing new

market segments as well as intensively

implementing the sustainability strategy

in the operational business.

INTENSIVE MARKET

PROCESSING

BROUGHT

NEW CUSTOMER

ORDERS.

IN 2017 SIGNS

OF GROWTH ARE

ON THE RISE.

50


51


52

ALONG WITH OUR

CUSTOMERS, WE ARE

REVOLUTIONIZING THE

FOOD PACKAGING

MARKET WITH LIGHT-

HOUSE PROJECTS

THROUGHOUT EUROPE.

„

MANFRED STANEK

CEO GREINER PACKAGING INTERNATIONAL GMBH

Revenue (EUR millions)

Employees

Locations

58133

4,474

53

GREINER GROUP ANNUAL REPORT 2016GREINER PACKAGING INTERNATIONAL

SOLID GROWTH THROUGH NEW PROJECTSGREINER PACKAGING INTERNATIONAL STRENGTHENS ITS MARKET POSITION THROUGH NEWLY

ACQUIRED PROJECTS. BY CONTINUING ITS EXPANSION STRATEGY, THE PACKAGING SPECIALIST

IS EXPANDING INTO POTENTIAL FUTURE MARKETS. IN ADDITION TO INNOVATION, SUSTAINABILITY

WILL BE A KEY SUCCESS FACTOR IN THE FUTURE.

Greiner Packaging International is

one of the leading packaging manu-

facturers in the food and non-food

sector in Europe. In line with the gui-

ding principle “do the Innovation”, new

product solutions for customers are

being studied continuously using sta-

te-of-the-art technology. The product

range includes both plastic packaging

and cardboard-plastic combinations

for the food industry as well as packa-

ging solutions such as plastic bottles

and containers for the food, cosmetic,

pharmaceutical and chemical indus-

tries. The Assistec business unit is

dedicated to producing plastic parts

and products as well as their assem-

bling and individual finishing for non-

food customers. It serves the markets

of office and leisure, household and

garden, health and personal care,

automotive and commercial vehicles

as well as re-packaging and logistics.

Greiner Packaging has developed into

a globally active packaging specialist

in recent years. In fiscal year 2016, the

company employed 4,474 employees

at 33 locations in 19 countries around

the world.

SOLID BUSINESS

DEVELOPMENT IN 2016

In 2016, Greiner Packaging gene-

rated revenue of 581 million euros,

which represents an increase of 3.6

percent compared to the previous year

(2015: 561 million euros). All locations

developed positively, sometimes even

above plan. This development is mainly

due to the acquisition of new customer

projects. At the same time, Greiner

Packaging strengthened its market po-

sition. The price of a barrel of crude oil

has risen constantly in 2016 and has

also had a negative effect on prices for

polyolefins, albeit somewhat delayed.

The weak euro, compared to other key

currencies, led to a tightening of the

commodity market, as export became

more attractive.

MARKET POSITION IN EUROPE

FURTHER EXPANDED

Europe remains the core market for

Greiner Packaging. More than

90 percent of sales are generated at

18 production sites in the European

Union, as well as countries in Central,

Eastern and Southern Europe.

All European locations developed

according to schedule in the 2016

financial year. Some sites even

developed above-average, thanks to

exciting new customer projects, which

were won and successfully completed.

At the Rastatt site in Germany, mea-

sures were taken to modernize the

machine park and, on the other hand,

increasingly supply customers in the

health care sector. Greiner Packaging

is firmly established on the European

market, above all thanks to its inno-

vative strength and close proximity

to customers. In Europe, customer

requirements are increasingly differen-

tiated, which requires greater flexibility

TASTY FISH SAUCES IN MATCHING PACKAGING DESIGN BY GREINER PACKAGING

55


for plastic packaging manufacturers.

In this environment, Greiner Packaging

succeeds in realizing, together with

customers, lighthouse projects that

revolutionize the market.

DEVELOPMENT IN TURKEY

CLOUDED BY CONDITIONS

On the market side, business in Turkey

was as expected. The operative busi-

ness was affected by difficult political

conditions. On the cost side, fiscal

year 2016 was clouded by the mas-

sive increase in the minimum wage,

which was passed by the government.

In addition, the sharp devaluation of

the Turkish lira against the U.S. dollar

in which the raw materials are purcha-

sed influences the development of the

Turkish site. The joint venture has been

well integrated into Greiner Packaging

and local management has aligned

the company very well to future market

requirements.

GREAT GROWTH POTENTIAL

IN NORTH AMERICA

The move to the U.S. in 2014 was set

at the right time. At that time, the trend

towards more innovative and, above

all, more sustainable packaging solu-

tions was strengthened in 2016. As the

largest economy in the world, the U.S.

offer Greiner Packaging great growth

potential in the area of high-quality

food packaging in the dairy sector. The

continuing trend of U.S. Americans

towards healthy food is also reflected

in the higher demand for sustainable

packaging. The Pittston (Pennsylvania)

site is prepared for future challenges in

the U.S. and successfully continued

intensive market development in 2016.

In 2016, further technologies, such as

the in-mold-labeling process (molding

and decorating cups in one production

step) as well as dry-offset printing

process (8 colors possible), were

implemented at the production site.

Development of the Greiner Assistec

site in Monterrey (Mexico) was equally

gratifying in 2016. New customer

projects were won and the product

portfolio was expanded. Today, the

company produces products for the

toy and automotive industry as well as

for domestic appliances manufacturers

and air conditioning suppliers.

EXPANSION TO INDIA

In August 2016, Greiner Packaging

founded a joint venture in New Delhi

(India), expanding its international

market position towards Asia. Plastic

packaging is produced for the Indian

dairy industry. India offers very high

development and growth potential

in the field of food packaging. As a

SUCCESS WITH

INNOVATIONS AND

PROXIMITY TO THE

CUSTOMER.

NEW CUSTOMER

PRODUCTS AND

EXPANDED PRODUCT

PORTFOLIO.

POSITIVE DEVELOP-

MENT IN THE U.S.

56


European company, Greiner Packaging

is a leading company in the region.

The goal of the joint venture is to offer

Greiner Packaging’s high existing

standards also in India in order to meet

the requirements of large multinational

customers locally in the future.

NEW ORGANIZATION STRUCTURE

UNDER NEW LEADERSHIP

In the middle of 2016, Manfred Stanek

took over the management of Greiner

Packaging. In the fourth quarter, a

new organizational structure was

implemented which, in addition to

engineering, finance, sales &

marketing, is structured by region –

Central and Western Europe, North

Eastern Europe, South Eastern Eu-

rope – as well as New Ventures and

the Assistec area. This creates an

efficient structure that enables Greiner

Packaging to process the individual

markets even more intensively and

expand its leadership in innovation.

In addition, measures were taken to

adapt standards and processes to

the new organizational structure.

INNOVATION AND

SUSTAINABILITY ARE SUCCESS

FACTORS OF THE FUTURE

Greiner Packaging is mainly involved

in the project business. A higher

degree of individualization and strong

innovation are the result. Customers’

wishes for innovation, design and

sustainability are becoming more and

more demanding. Due to the proven

international key account management

system, projects are implemented in

very close cooperation with customers.

Greiner Packaging relies on many

VISUALLY APPEALING OVERALL

SOLUTION (BEAKER + LID + SPOON)

01

01

02

02

03

03

BUTTER PAN WITH REDUCED

PLASTIC PART BY K3®

(CARDBOARD-PLASTIC COMBINATION)

FLAVORED WATER IN BPA-FREE

TRITAN BOTTLE

57


years of experience in the field of

plastics processing, which enables

the further development of existing

technologies as well as the creation of

new production processes with which

product quality can be increased

significantly. The most recent example

is the further development of multi-

barrier technology for the production

of coffee capsules. In addition,

innovation management has been

implemented, which deals exclusively

with processes, technologies and

product development in general. One

aspect of this management deals

with digitizing trade or the use of

bio-polymers for products. Innova-

tion management is closely linked

to product management, so that an

idea is developed more quickly into a

market-ready product.

To be a leader in innovation and sus-

tainability, structured processes and a

holistic approach are necessary.

In 2016, strategies were developed and

measures taken to institute permanent

improvements in the areas of environ-

ment, energy, quality and work safety.

OUTLOOK FOR 2017

Further sales and earnings growth are

projected for the 2017 financial year.

Growth is attributable to intensive

market development in all regions

and business sectors. New customer

orders are already being processed or

are under negotiation. Special atten-

tion will be given to market develop-

ment in the U.S. in 2017 as well as

to political developments in Turkey. In

the first quarter of 2017, OOO Plastic

Systems, a Russian packaging speci-

alist located in Noginsk near Moscow,

was taken over at 70 percent. Greiner

Packaging has been represented

by a joint venture in Vladimir (Russia)

for many years. With the acquisition,

Greiner Packaging is further expanding

its market share in Russia, thereby

increasing its product portfolio.

INNOVATION,

DESIGN AND

SUSTAINABILITY

IN FOCUS.

EXPANDING MARKET

SHARE IN RUSSIA.

60

WE ARE MOVING CLOSER

TO THE CUSTOMER

WITH NEW SUBSIDIARIES

AND ARE BETTER

ABLE TO SERVICE INTER-

NATIONAL MARKETS.

„RAINER PERNEKER

CEO GREINER B IO-ONE INTERNATIONAL GMBH

45225

Revenue (EUR millions) 2,057Employees

Locations

61

GREINER GROUP ANNUAL REPORT 2016GREINER BIO-ONE INTERNATIONAL

STRENGTHENING INTERNATIONAL PRESENCEIN THE 2016 FINANCIAL YEAR, GREINER BIO-ONE INTERNATIONAL STRENGTHENED ITS MARKET POSITION

IN ALL REGIONS. THE EXPANSION OF THE HEADQUARTERS LOCATION IN KREMSMÜNSTER (AUSTRIA) WAS

FOLLOWED BY ENLARGING THE FRICKENHAUSEN (GERMANY) SITE. WITH NEW SALES OFFICES IN EUROPE,

PROXIMITY TO THE CUSTOMER IS FURTHER EXPANDED.

Greiner Bio-One International is one

of the leading companies in the field

of medical technology. Preanalytics,

headquartered in Kremsmünster

(Austria), develops and produces

innovative collection systems for

human and veterinary samples from

blood, urine and saliva. Daily routine

tasks in the hospital, laboratory or

doctor’s office have become easier

and safer. The BioScience business

unit, headquartered in Fricken-

hausen, Germany, is a technology

partner collaborating with universities,

research institutes as well as for the

diagnostic, pharmaceutical and bio-

technological industries. BioScience

is a leading developer and producer

of specialty products for cultivating

and analyzing cell cultures as well

as microplates for high-throughput

screening. In addition, they also pro-

duce and market molecular analysis

methods, such as DNA arrays for

detecting bacteria or viruses. Their

fields of application range from hu-

man diagnostics and food technology

to bio-pharmaceutical production. As

an original equipment manufacturer

(OEM), Greiner Bio-One assumes

customer-specific design develop-

ments and manufacturing processes

for industrial customers from the

pharmaceutical, biotechnology,

diagnostics and medical technology

industries. Mediscan, a wholly-owned

subsidiary of Greiner Bio-One Inter-

national, headquartered in Krems-

münster (Austria), is responsible for

the final step in the production chain,

namely sterilizing medical products.

Services for other areas and third

parties include the sterilization of food

packaging and functional improve-

ment of plastics and semiconductors

through ionizing radiation.

BUSINESS PERFORMANCE AHEAD

OF GENERAL MARKET GROWTH

The positive growth continued in

2016 across all locations. In 2016,

Greiner Bio-One International em-

ployed 2,057 employees and gener-

ated sales of 452 million euros, which

was an increase of 6% compared

to the previous year (2015: 427

million euros). Sales growth is thus

above the general market growth,

which amounts to 3 to 5%. In 2016,

Greiner Bio-One’s market position

was further strengthened and ex-

panded in all regions.

EXPANSION OF NATIONAL

AND INTERNATIONAL LOCATIONS

With an investment volume of more

than 36 million euros in the 2016

financial year, there was strong impe-

tus to further expanding locations and

capacities. Expansion of the Brazil

MINICOLLECT® CAPILLARY BLOOD COLLECTION SYSTEM

63

site was completed according to plan

in September 2016. Production

capacities were thus significantly

increased due to the greater demand

for blood sampling tubes on the

Brazilian market. With an investment

of 9.3 million euros, the groundbreak-

ing ceremony for extending the Greiner

Bio-One headquarters in Krems-

münster took place in July 2016.

The office and laboratory areas will

almost triple from 2,000 to 5,800 m2

by autumn 2017. In addition, a new

plant for VACUETTE® blood collection

tubes was implemented at Krems-

münster. This makes it possible to

double the output and the assembly

line also has integrated quality control

and ergonomic handling.

WITH MORE NEW BRANCHES

CLOSER TO THE CUSTOMER

With a population of 60 million people,

Italy is one of the most important

European markets for Greiner Bio-One.

In 2016, a dedicated sales office was

set up in Milan to provide customers

with direct access to the market. In

order to process the growing Turkish

market more specifically, a separate

sales office was also established in Is-

tanbul. After setting up the distribution

subsidiaries in Italy and Turkey, Greiner

Bio-One expanded its network in

March 2017 by taking over long-term

trading partners in Spain and Portugal.

These new Greiner Bio-One locations

will be used in the future to bundle all

Preanalytics and BioScience activities

in order to on the one hand serve

these markets more efficiently and

on the other hand focus more directly

on customer requirements through

direct sales.

INNOVATIONS FOR THE BENEFIT

OF THE PEOPLE

In fiscal 2016, Greiner Bio-One once

again introduced innovative products

to the market. The new MiniCollect®

capillary blood collection system sim-

plifies the removal of small and very

small amounts of blood and allows

direct processing on all common

analysis equipment. Even for the

smallest patients, who often fear

blood sampling, the system offers

great advantages: Due to the safety

mechanism and the special polishing

of the MiniCollect® safety lancets, the

puncture is almost pain-free and also

hides the view of the precision can-

nula. With VACUETTE® FC Mix Tube,

Greiner Bio-One presents a pre-

analytical product solution that allows

glucose stabilization immediately after

EXTENSION OF THE

HEADQUARTERS IN

KREMSMÜNSTER.

INNOVATIONS FOR

EVEN THE SMALLEST

PATIENT.

NEW DISTRIBUTION

SUBSIDIARIES IN

ITALY AND TURKEY.


64


extraction for up to 48 hours. This

can be used to prevent false-negative

diagnoses in pregnancy-onset dia-

betes and prevent consequences for

the unborn child. Long-term stabiliza-

tion of the sample allows longer trans-

port and storage times. With Greiner

eHealth Technologies (GeT), Greiner

Bio-One offers customized digital

system solutions for hospitals and

laboratories, which enable the entire

pre-analytical process from the lab-

oratory requirement to sampling and

transport to be imaged and traced. In

the laboratory, GeT solutions support

the efficient processing of samples

on analyzers and their archiving as

well as electronic transmission of

findings to the physician. This allows

a substantial increase in the quality of

the analytical result and, as a result,

of the patient treatment. Greiner

Bio-One not only provides the right

software but also the blood sampling

tubes already equipped with unique

bar codes. This can reduce speci-

men exchange rates and qualitatively

affected specimens by up to 70%,

while the usual work processes can

be reduced by up to 50%, thereby

achieving high operational savings.

At the moment, interested market

players from the MedTech industry

and customers from around the world

are approaching Greiner Bio-One in

order to secure cooperation regarding

these innovative system solutions.

Innovative products also attract atten-

tion in the bio-science sector. The cell

culture vessel CELLdisc™ offers large

growth areas in a small space and

facilitates the scale-up of mass cell

CELLDISCTM FOR THE

SCALE UP OF MASS CELL

CULTURES

01

02

0201

03

03

VACUETTE® FC MIX

TUBES WITH

GLUCOSE STABILIZATION

DIGITAL SYSTEM SOLUTIONS

THROUGH GREINER

eHEALTH TECHNOLOGIES

65

cultures. Due to its compact, robust

and cylindrical design, CELLdisc™ is

suitable for smaller test series as well

as for automation and the calculable

scale-up of mass cell cultures in the

1,000 to 10,000 cm2 range. Surface

treatment of the vessels, their venti-

lation through a central gas channel,

which optionally allows active or pas-

sive gassing, as well as supply and

exhaust air filters support ideal cell

growth. Greiner Bio-One has been

developing and manufacturing prod-

ucts for freezing for 30 years. With

Cryo.s™ Biobank tubes, the product

portfolio has been extended by a

solution for high-throughput sample

storage and automated storage sys-

tems. The particularly robust tubes,

available in 300 μl, 600 μl and 1000 μl

sizes, consist of a high-quality poly-

mer and are therefore exceptionally

suitable for storage over long periods

at extremely low temperatures – for

example, in the gas phase via liquid

nitrogen. The high purity of the material

ensures that no unwanted substances

diffuse into the samples.

OUTLOOK FOR 2017

The positive trend from 2016 con-

tinues in 2017 and the forecasts for

2017 are characterized by further

growth. Large orders from all parts of

the world resulting from the bidding

of major international calls for tenders

in the second half of 2016 accelerate

the business and ensure excellent

utilization in 2017. Expansion of the

markets with other selected trading

partners and large customers, as well

as cooperation with the diagnostic

and pharmaceutical industries, also

contribute to the continuously positive

development.

In order to continue meeting the

growing demand worldwide, after fin-

ishing the Greiner Bio-One headquar-

ters in Kremsmünster a major focus

will be on expanding the location in

Germany. In two construction stages,

the high-rack warehouse as well as

production will be expanded to the

maximum capacity at the Frickenhau-

sen location. After a project duration

of two years, completion is planned

for 2019.

INTERNATIONAL

INTEREST FOR

GREINER BIO-ONE

DEVELOPMENTS.

POSITIVE

DEVELOPMENT

BY EXPANDING

THE MARKET.


68

AS A WORLDWIDE

ACTING FOAM GROUP,

WE ARE PURSUING THE

GOAL OF SUSTAINABLE,

GLOBAL GROWTH.

„MICHAEL SCHLEISS

CEO GREINER FOAM INTERNATIONAL GMBH

Revenue (EUR millions)50% share in joint ventures

Employees 50% share in joint ventures

Locations

36457

2,318

69

GREINER GROUP ANNUAL REPORT 2016GREINER FOAM INTERNATIONAL

GLOBAL COMPETENCE IN SPECIAL FOAMSYNERGY POTENTIALS WITHIN THE DIVISION WERE MORE STRONGLY UTILIZED AND THE

GLOBAL PRESENCE ENLARGED THROUGH FURTHER EXPANSION. FOAM COMPETENCIES

ARE CONCENTRATED UNDER THE MOTTO “FOAM FOR LIFE”.

Greiner Foam International (GFI) has

the goal of becoming a leading global

integrated foam group. The strategic

group of companies functions with

six operating divisions in the business

areas of PU foam, automotive, aviation

and building technology. With Greiner

Perfoam, Greiner aerospace, Greiner

MULTIfoam, Greiner PURtec and the

joint ventures Eurofoam and Unifoam,

all Greiner Group foam competencies

are bundled into one division.

Eurofoam has a tight network in Central

and Eastern Europe; Unifoam is

located in Durban, South Africa. Both

companies are leading suppliers in the

production and processing of flexible

polyurethane foams in their target mar-

kets. Foams are used in the upholstery

furniture and mattress industry as well

as for numerous technical applications,

particularly in the automobile industry

but also in environmental and building

technology.

Greiner Perfoam, headquartered in

Enns, Austria, is a specialized auto-

motive supplier in its segment with a

total of five locations in Europe and

two overseas joint ventures. The com-

pany develops and produces, focused

on premium car manufacturers, func-

tional visible parts for the interior and

the trunk as well as specially designed

acoustic components for the interior

and engine compartment.

Greiner aerospace is a globally oper-

ating specialist for seat cushions and

covers in passenger airplanes with

production sites in China, Europe

and the U.S.

Greiner MULTIfoam produces com-

posite foam at several locations in

Europe as a raw material for the auto-

motive, sports, construction, shoe

and furniture industries. The MULTI-

foam subsidiary GuKoTech manufac-

tures high-quality cork, rubber/cork

and pure rubber products in the areas

of building protection, load securing,

sound insulation, room acoustics,

impact sound and vibration insulation

at the Nürtingen (Germany) location.

Greiner PURtec is a specialist in devel-

oping and producing innovative thermal

insulation and acoustic solutions for

a wide range of applications in the

construction and heating sector.

In 2016, the division employed more

than 2,300 (100%) employees at 57

locations in 16 countries around the

world and therefore guaranteed cus-

tomer proximity, short delivery times

and best quality.

SUCCESSFUL BUSINESS

DEVELOPMENT IN 2016

Business development for Greiner

Foam International was very pleasing in

2016. Revenues of 364 million euros

were slightly below the previous year’s

budget (2015: 378 million euros). This

unfolding is attributable to a decline

of about 10 percent in the automotive

sector caused by discontinued serial

orders. The divisions were able to

BENTLEY BENTAYGA (SUV) LUGGAGE COMPARTMENT COVER. THE COMPONENT IS MANUFACTURED MANUALLY AND IN

SIMILAR MANUFACTURING PROCESSES BY GREINER PERFOAM AND PARTNER COMPANIES.

71

gain widespread market shares and

expand quality leadership further. The

raw material price situation tradition-

ally influences the company group’s

business development. Mainly used

for foam production are isocyanates

(TDI and MDI) as well as polyol, whose

market prices are subject to consider-

able fluctuations. While in the first half

of 2016 raw material prices were low

compared to the last few years, they

rose sharply in the second half of the

year. In the fourth quarter, there were

supply bottlenecks in some places.

However, due to the good supplier

relationship, supply for the companies

were ensured the entire time.

“FOAM FOR LIFE“

On July 1, 2016, Michael Schleiss,

former division manager of Greiner

Perfoam, took over the division man-

agement of Greiner Foam International

from Manfred Marchgraber, who

retired after 47 years at Greiner. At

the same time, the former Greiner

Perfoam division was integrated

organizationally into GFI. As a result,

a “new” vision and mission was

developed for GFI under the motto

“Foam for Life”. With competence

as a globally operating foam group,

Greiner Foam International is one of

three strong pillars within the Greiner

Group. Its main goals are economic

success; sustainable, global growth

and the claim to be “best in class”.

GFI’s division strategy is based on

shared responsibility for success as

well as sensible use of synergies and

employee networking. This can be

seen, for example, in the intensive co-

operation between the divisions in the

fields of innovation and development,

IT, purchasing and human resources.

EUROFOAM TARGETS

NEW MARKETS

In 2016, Eurofoam Group, a 50

percent Greiner joint venture with the

Belgian Recticel Group, achieved a

very positive business performance in

all markets. With more than 2,000

employees at 37 locations in Central

and Eastern Europe, Eurofoam is

one of the largest manufacturers of

specialty foams in Europe. In Poland,

Eurofoam operates Europe’s largest

plant for the production of polyurethane

soft foam. In Sibiu (Romania), a new

long block storage facility was put into

operation in order to further expand the

product portfolio and service quality

in South Eastern Europe. The regions

of Austria, Germany and Hungary are

also being further developed consis-

tently and dynamically.

GREINER PERFOAM ON

EXPANSION COURSE

In the last two financial years, Perfoam

has been very successful acquiring

orders in the premium automotive seg-

ment. This means that in the interior as

well as in the acoustics sector a good

utilization of machines and factories is

expected until 2025. In 2016, a joint

venture was set up in China (locations

in Tianjin and Shenyang) in order to

handle global orders from BMW and

Daimler optimally. The establishment

of another joint venture for the NAFTA

region took place in Mexico. Greiner

Perfoam continues to focus on the

trend towards more foam (low weight,

high impact) for vehicle acoustics.

AEROSPACE CONTINUES

TO BE VERY SUCCESSFUL

Greiner aerospace’s business volume

developed very positively. The company

proves to be a reliable partner of the

airlines and manufacturers of aircraft

seats with a high quality seat cushion.

The further intensive expansion of the

seat cover business (“dress covers”) is

a clear objective. At the end of 2016,

negotiations were begun for acquiring

a company in the area of dress covers

based in Germany and Bosnia-Herze-

govina. The takeover was completed

in the first half of 2017. With this

acquisition, Greiner aerospace is

gaining significant know-how as well

as direct access to new customers.

In addition, the company gained

added value.

UNIFOAM WINS NEW CUSTOMERS

The development of the Unifoam

joint venture in South Africa con-


72

tinues to be very satisfactory. Both

foam production and further pro-

cessing (manufacturing) were well

utilized. Political unrest, the resulting

economic consequences, strong

currency fluctuations, and, ultimately,

an extremely scarce supply of raw

materials, demanded a great deal

of local management. Thanks to its

great dedication, this “special year”

has nevertheless become a success-

ful one. For 2017, the focus will be

on regional expansion of business in

southern Africa.

GREINER MULTIfoam SUCCESSFUL

WITH RECYCLING MATERIAL

Greiner MULTIfoam is a leading

manufacturer of PUR flake composite

foam. At plants in Austria, Germany

and Poland, recycled materials, such

as foam residues from the GFI divi-

sion, as well as cork and rubber, are

processed into a wide variety of prod-

ucts. The use of products is diverse:

Elastic layers under artificial lawns and

sports floors, impact sound insulation,

acoustically effective door insulation,

sound absorbers for vehicles, special

foams for shoes, protective mats and

load-securing systems.

GREINER PURTEC ASSERTS ITSELF

IN SHRINKING MARKET SEGMENT

The average liter size of hot water

storage has declined in recent years,

which means that the overall market

for container insulation is shrinking.

Greiner PURtec is a technology leader

in this market and has progressed

satisfactorily despite the difficult mar-

ket development. The development of

a particularly energy-saving container

FOAM FOR SHOE INSOLES

(GREINER MULTIfoam)

01

01

02

02

03

03

MATTRESS CORE

CROSS-SECTION (EUROFOAM)

HOT WATER STORAGE

(GREINER PURtec)

73

insulation of energy efficiency class A,

which is very well received by the mar-

ket, is revolutionary. In addition, Greiner

PURtec is also active in a second

business area with room acoustics.

FOCUS ON FURTHER GROWTH

THROUGH EXPANSION

Greiner Foam International pursues a

systematic expansion strategy that

focuses on the PU foam sector.

Among other things, negotiations

were held with potential acquisition

targets in Brazil, Egypt, India and

Turkey. For various reasons, often due

to uncertain political and therefore

uncertain economic conditions in the

respective regions, these talks have

so far led to no specific takeover.

In the near future, NAFTA countries,

especially Canada and Mexico, as

well as Asia will be the focus of Greiner

Foam International.

In the automotive and aviation growth

segments, Greiner Foam International

plans to make further acquisitions to

expand its existing divisions, enlarge

new markets and further increase its

product portfolio.

PROMISING LIGHTHOUSE

PROJECTS

With numerous innovations, Greiner

Foam International takes a pioneering

role in a wide range of areas. Euro-

foam strengthens its market position

by consistently pursuing innovations in

products and processes. In the spring

of 2016, an innovative foam for mat-

tresses was presented with xdura®,

which won an innovation award in Ger-

many. Greiner Perfoam has developed

a very lightweight trunking panel which

meets all requirements, but is 25%

lighter than its standard counterpart

and at the same time offering a cost

savings of 25%. Greiner aerospace’s

latest development is a structural

element in foam cushions for aircraft

seats. This revolutionary innovation

is protected by a worldwide patent

and secures the pioneering role of

the company in the field of structural

cushioning.

OUTLOOK FOR 2017

Significant uncertainties exist on the

raw material side; prices for PU com-

ponents are rising steadily for the time

being. For the Eurofoam investment,

GFI’s focus is on developing a share-

holder strategy to optimally align the

company with future market conditions

and further growth. At Perfoam, the

focus is on ramping-up the two joint

ventures in China and Mexico as well

as series development of new orders.

Greiner aerospace is intensively

involved with integrating the purchased

dress cover manufacturer. In 2017,

Multifoam will expand the plant in

Poland (Ozorków) significantly.

EXPANSION AS A

GUARANTEE FOR

FURTHER GROWTH.

USE OF SYNERGY

POTENTIAL IN FOCUS.


76

WE HAVE EXPANDED

OUR MARKET SHARE

WITH CUSTOMER-SPECIFIC

MACHINE SOLUTIONS

AND OUTSTANDING

DEVELOPMENT SERVICES.

„GERHARD OHLER

CEO GREINER EXTRUSION GROUP GMBH

Revenue (EUR millions)

Employees

Locations

7911

782

77

GREINER GROUP ANNUAL REPORT 2016GREINER EXTRUSION GROUP

WE HAVE EXPANDED

OUR MARKET SHARE

WITH CUSTOMER-SPECIFIC

MACHINE SOLUTIONS

AND OUTSTANDING

DEVELOPMENT SERVICES.

COMPLETE SUPPLIER IN PROFILE EXTRUSIONCONSISTENT CONTINUATION OF THE STRATEGIC ORIENTATION AS A GLOBAL PARTNER FOR

ALL REQUIREMENTS IN PROFILE EXTRUSION LED TO AN INCREASE IN MARKET SHARES IN 2016.

INNOVATIVE SOLUTIONS FOR GREATER ADDED VALUE AND INCREASED INTERNATIONAL

PRESENCE HAVE OPENED UP NEW MARKETS AND GAINED NEW CUSTOMERS.

Greiner Extrusion Group (GEG) is the

world’s leading supplier of extrusion

lines, tools and complete systems

for plastic profile extrusion. At the

production and service locations in

Europe, the U.S. and Asia, complete

solutions are offered for all require-

ments of Premium I Mid I Economy

profile manufacturers.

In fiscal year 2016, Greiner Extrusion

Group generated sales of 79 million

euros with 782 employees. Despite

difficult geopolitical conditions and

weak economic activity in the first half

of the year, both business volume

and profitability of the previous year

were maintained and market shares

gained. The consequent processing

of the middle market segment, the

growing U.S. market, the opening

up of new country markets and an

increased flexibility in production con-

tributed significantly to the success

of the business.

GREINER EXTRUSION GROUP –

KEEPING YOU AHEAD IN EXTRUSION

Since October 2016, the division is

known as Greiner Extrusion Group

(formerly Greiner Tool.Tec). The new

claim, “KEEPING YOU AHEAD IN

EXTRUSION”, manifests the Greiner

Extrusion Group’s mission. Eight

Greiner Extrusion Group companies

offer complete solutions for profile

extrusion with their business model

and have been wearing the “Greiner

Extrusion Group” logo since the brand

relaunch. The GPN manufacturing

specialist continues to operate under

the logo “GPN” with its business

model and is an integral part of the

Greiner Extrusion Group. One busi-

ness group – one roof brand – two

business models. As a result, Greiner

Extrusion Group offers the entire

portfolio of Greiner technologies,

products and innovations to profile

manufacturers worldwide. Formerly

only regionally-managed products,

local services and developments, as

well as specific process know-how

regarding various materials in profile

extrusion, are now fully networked

and made available to profile manu-

facturers worldwide.

SUCCESSFUL MACHINE

BUSINESS IN EUROPE

In the DACH region (Germany, Austria

and Switzerland), twice as many

machines were sold in 2016 as in the

same period the previous year. The

increased commitment to developing

customized solutions and high pro-

duction flexibility at several locations

provide decisive advantages for

customers. Other leading profile

manufacturers opted for solutions

from the Greiner Extrusion Group.

Market shares were won in the

segment of extrusion successor ma-

chines. In Great Britain, the outcome

MORE BEAUTIFUL PROFILE SURFACES, LOWER PROFILE COSTS AND LOWEST OVERALL OPERATING COSTS.

EXTRUSION TECHNOLOGIES FROM GREINER EXTRUSION GROUP.

79

of the Brexit Referendum clouded the

investment climate initially. In Turkey, on

the other hand, the intensified market

treatment brought planned sales

success despite difficult political and

economic conditions. In Russia and

the Ukraine, follow-up contracts with

long-standing regular customers were

concluded in 2016.

NEW SERVICE AND DISTRIBUTION

BUSINESS IN POLAND

Over the last few years, Poland has

become the third-largest manufac-

turer of plastic profiles in Europe. In

the field of window profiles as well

as technical profile extrusion, Greiner

Extrusion Group sees an increasing

demand for services, spare parts

and wearing parts as well as process

optimization for further efficiency im-

provements. With the establishment

of a service and sales company

in Poland, since autumn 2016, all

services have been offered locally

and in neighboring countries, such as

the Baltic States, Belarus and Russia.

One of the many highlights was the

development of a complete roof win-

dow system for a Polish customer.

GROWTH ENGINE U.S.

The upturn in U.S. residential con-

struction continued in 2016 and

stimulated investment in new profile

extrusion plants. Greiner Extrusion

Group took advantage of the ongoing

boom with its production companies

in the U.S. as well as in the “Window”

and “Technical Profiles” business

segments. Locations in Meadville

(Pennsylvania) and Ramsey (Minneso-

ta) were run at full capacity throughout

the year and contributed significantly

to Greiner Extrusion Group’s success.

The sales and service presence for

MTI mixer systems at the Meadville

site, which was created in 2015,

is supported by positive growth.

Through cooperation with the German

MTI and the distribution system of

the Greiner Extrusion Group in North

America, customers receive “every-

thing from a single source” for their

profile extrusion. From mixing system

for raw material, extrusion lines and

tools to spare parts maintenance and

on-site service.

ASIAN EXTRUDERS ARE INCREAS-

INGLY USING PRODUCTS FROM

THE GREINER EXTRUSION GROUP

In addition to many other regions of

the world, India and Korea were also

the focus of the international market

offensive. As a result, it was possible

to win another leading profile extruder

in Korea as a customer. The Greiner

Extrusion Group will be supplying this

new customer with machines and

tools from the Modular Power Tooling

series, which are used by more and

more mid-range customers due to

performance advantages and higher

efficiency. In India, a turn-key project

for a new entrant was implemented

in window profile extrusion. In addi-

tion to Modular Power Tooling and

the production lines of the RED.LINE

series, the scope of delivery includ-

ed complete engineering as well as

a window profile system developed

individually for the customer. In the

Central Asian region as well, Greiner

Extrusion Group was able to expand

its leading market position for window

profile extrusion and increase its share

of recurring business.

GREATER CUSTOMER

PROXIMITY AND

SUPPLEMENTARY

SERVICE.

ECONOMIC

SOLUTIONS FOR

THE MID-MARKET.

POTENTIAL IN

ASIA TAPPED.


80


SUCCESSFUL MARKET ENTRY

DOWN UNDER

After several years of business initiation,

several projects in Australia and New

Zealand were implemented in the

2016 financial year. Greiner Extrusion

Group scored new customers

through the greater advantages of

“RED.LINE” premium machines and

innovative tool technologies for tech-

nical profile applications as well as

for multilayer co-extrusion.

GPN OPENS UP NEW BUSINESS

AREAS IN EXTRUSION

Greiner Production Network (GPN), a

subsidiary of Greiner Extrusion Group

with production sites in Austria and

the Czech Republic, has its core

competence in the mechanical pro-

duction of tools, machines and com-

ponents for plastic profile extrusion.

Production is based on individual

and precise customer drawings. In

the course of the repositioning as a

production specialist for the entire

extrusion industry in 2016, numerous

production orders, including for tube,

plate and foil extrusion as well as for

plastic recycling plants, have already

been successfully acquired and

completed. In financial year 2016,

GPN played a major role in expanding

the range of services for the entire

extrusion industry, according to the

vision GREINER.SOLUTIONS INSIDE

EVERY EXTRUSION.

MORE EFFICIENT AND FLEXIBLE

IN TECHNICAL PROFILE

EXTRUSION WITH TEC.TOOLING.

01

01

02

02

03

03

BETTER ADHESION OF

SEALS FOR MORE ADVANTAGE.

RED.PCE PLUS.

HIGHEST PROCESS

STABILITY AND MAXIMIZED

NET PRODUCTION TIME WITH

SOLID.COOLING.

81

INNOVATIVE PRODUCTS HAVE

ENJOYED GREAT POPULARITY AT

INTERNATIONAL TRADE FAIRS

Greiner Extrusion Group operates the

largest research and development

center in the industry. Highly qualified

experts are constantly evolving existing

products and creating innovative new

developments. The focus is always

on sustainable customer solutions for

greater advantage in extrusion. One

focus area is automating the entire ex-

trusion process and thus implementing

industry 4.0 approaches for product

solutions and processes. Several inno-

vative products and technologies were

presented at the world’s largest trade

fair, the K2016. SOLID.COOLING is

a caliber technology that minimizes

maintenance and maximizes process

reliability and net production time for

the customer. RED.PCE plus (Post-

CoExtrusion) ensures the best possible

adhesion of seals to profiles, shortens

start-up times and reduces material and

energy consumption. Nearly half of the

tools in Europe are already equipped

with FLOW.CONTROL, the active melt

flow control system. Individual profile sec-

tions are braked or accelerated with cold

or hot air, which saves material costs and

increases the net production time.

OUTLOOK FOR 2017

The current financial year has gotten

off to a good start. Numerous new

projects have already been complet-

ed or are in the negotiation phase.

However, due to the geopolitical

conditions and possible events

with short-term effects on customer

investment activity, Greiner Extrusion

Group is cautious with forecasts. Im-

portant prerequisites for further posi-

tive development in the 2017 financial

year have already been created. The

international distribution system has

been strengthened, presence and

customer proximity in many country

markets have been intensified, action

programs in the field of after-sales

service are being implemented. The

portfolio will be supplemented with

new products for the medium perfor-

mance segment. In 2017, strategic

development projects, such as the

reduction of material use and energy

consumption in profile extrusion as

well as the further development of

automated extrusion lines and con-

trollable tools, will also be intensified.

In 2017, Greiner Extrusion Group

will consistently pursue its goal of

serving global extrusion customers

even more extensively.

INNOVATIONS FOR

MORE CUSTOMER

BENEFITS.

CONSISTENTLY

PURSUING THE

DEVELOPMENT

OBJECTIVES.


82

GREINER GROUP ANNUAL REPORT 2016NOTES

100%

90 %

greiner packaging slusovice s.r.o.Czech Republic 100 %

Greiner Packaging GmbHAustria 100 %

Greiner Bio-One GmbHAustria 100 %

Greiner Bio-One GmbHGermany 100 %

Mediscan GmbHAustria 100 %

Mediscan GmbH & Co. KGAustria 100 %

greiner packaging s.r.o.Czech Republic 40.1 %

GREINER PACKAGING Sp. z o.o.Poland 37.7 %

Greiner Packaging LimitedGreat Britain 100 %

Greiner Packaging Kft.Hungary 56 %

Greiner Packaging S.R.LRomania 100 %

OOO Greiner PackagingRussia 51%

TOV Greiner PackagingUkraine 100 %

Greiner Real Estate Vermietung St. Gallen GmbH Austria 0.8 %

Greiner Assistec GmbHAustria 100 %

greiner assistec s.r.o.Czech Republic 10 %

greiner packaging holding agSwitzerland 100 %

AS Greiner PackagingEstonia 100 %

Greiner Assistec S.R.L.Romania 100 %

Greiner Packaging d.o.o.Serbia 100 %

greiner packaging agSwitzerland 100 %

Rundpack AGSwitzerland 100 %

Greiner Packaging GmbHGermany 100 %

TEKNIK PLASTIK GREINER AMBALAJ SANAYI VE TICARET ANONIM SIRKETI · Turkey 51 %

Greiner Packaging India Private Limited India 69.9 %

Greiner Packaging Distribution SARLFrance 100 %

Greiner Packaging B.V.Netherlands 100 %

Greiner GmbH Germany

Greiner K.G. Austria

59.9 %

62.3 %

44 %

Cardbox Packaging Slusovice s.r.o.Czech Republic 49 %

Mould & Matic Solutions s.r.o.Czech Republic 49 %

THRACE GREINER PACKAGING S.R.L.Romania 50 %

TOV Greiner Real EstateUkraine 100 %

Greiner Assistec, S.A. de C.V.Mexico 100 %

Greiner i JP Packaging d.o.o.Serbia 51%

Greiner Packaging d.o.o.Slovenia 51.8 %

GREINER PACKAGING CORP.USA 100 %

Greiner Packaging Vertriebs GmbHGermany 100 %

EUROFOAM Polska Sp. z o.o.Poland 100 %

Eurofoam GmbHAustria 50 %

Greiner Perfoam GmbHAustria 100 %

EUROFOAM Hungary Kft.Hungary 100 %

Porolon TzOVUkraine 95 %

S.C. EUROFOAM S.R.L.Romania 100 %


S.C. FLEXI MOB TRADING S.R.L. · Romania 50 %

Caria Sp. z o.o.Poland 51%

EUROFOAM Sunderi d.o.o.Serbia 100 %

Poly spol. s.r.o.Slovakia 100 %

PPHiU “Kerko“ Sp. z o.o.Poland 51.7 %

UAB LITFOAMLithuania 60 %

“EUROFOAM-KALININGRAD“ LLC Russia 100 %

EUROFOAM Bohemia s.r.o.Czech Republic 100 %

BPP spol. s.r.o.Czech Republic 51.4 %

SINFO spol. s.r.o.Czech Republic 51%

EUROFOAM TP spol. s.r.o.Czech Republic 80 %

Eurofoam BG oodBulgaria 100 %

KFM-Schaumstoff GmbHGermany 100 %

EUROFOAM Deutschland GmbH Foams· Germany 100 %

Greiner MULTIfoam GmbHAustria 100 %

Greiner Foam South Africa (Pty) Ltd.South Africa 100 %

Greiner MULTIfoam Sp. z o.o.Poland 100 %

Unifoam (Pty) Ltd.South Africa 50 %

GuKo Tech GmbHGermany 100 %

Parabel J.V.Belarus (in Liquidation) 58 %

Greiner PURtec CZ spol. s.r.o.Czech Republic 100 %

Greiner PURtec GmbHAustria 100 %

Greiner aerospace CZ spol. s.r.o.Czech Republic 100 %

Greiner aerospace Inc.USA 100 %

Greiner Aerospace (Shanghai) Co., Ltd.China 100 %

Greiner aerospace GmbHAustria 100 %

Greiner Bio-One Hungary Kft.Hungary 100 %

Greiner Bio-One North America, Inc.USA 100 %

Greiner Bio-One North America Sales Corp. USA 100 %

Greiner Bio-One Turkey Laboratuvar ÜrünleriLimited Sirketi · Turkey 100 %

Greiner Bio-One France S.A.S.France 100 %

Greiner Bio-One Italia S.R.L.Italy 100 %

Greiner Bio-One Brasil Produtos Medicos Hospitalares Ltda. · Brazil 100 %

Greiner Bio-One VACUETTE Schweiz GmbHSwitzerland 100 %

Greiner Bio-One Brasil Service Tech Sistemas, Produ-tos E Servicos para saude Ltda. · Brazil 100 %

Beijing GBO Suns Medical Devices Co., Ltd. China 100 %

Greiner Bio-One (Thailand) Ltd.Thailand 100 %

Greiner Bio-One Suns Co., Ltd.China 51%

Greiner Bio-One India Private LimitedIndia 63 %

Greiner Bio-One Ltd. Great Britain 100 %

Greiner Bio-One Co. Ltd.Japan 98.3 %

Greiner Bio-One B.V.Netherlands 100 %

Greiner Bio-One Diagnostics GmbH Austria 100 %

Greiner Bio-One BVBABelgium 100 %

GPI GFIGBO

GHO

Greiner Packaging International GmbHAustria

Greiner Foam International GmbHAustria

Greiner Bio-One International GmbHAustria100 % 100 %

Asociatia Romana a Dozatoarelor Pentru Apa (A.R.D.A.) · Romania 33.3 %

Greiner perfoam spol. s r.o.Czech Republic 100 %

Greiner Perfoam GmbHGermany 100 %


Greiner Perfoam Automotive Interior Sys-tems Shenyang Co., Ltd. China (in Liquidation) 100 %

GREINER PERFOAM USA, INC. USA 100 %

Greiner Real Estate GmbHAustria 100 %

Greiner Group Services s.r.o.Czech Republic 100 %

Greiner Enterprise Management Consulting (Beijing) Co. Ltd. · China 100 %

Greiner Real Estate s.r.o.Czech Republic 100 %

Greiner Real Estate Sp. z o.o.Poland 100 %

Greiner Real Estate VermietungSt. Gallen GmbH · Austria 99.2 %

SCI Greiner Real EstateFrance (in Liquidation) 100 %

Status: 31. 12. 2016

OOO Greiner Real EstateRussia 100 %

28 %

10 %

Greiner Extrusion GmbHAustria 100 %

GPN GmbHAustria 100 %

Greiner Extrusion US, Inc. USA 100 %

Greiner Extrusion Technology [Shanghai] Co., Ltd.China 100 %

Greiner Tech. Profile GmbHAustria 100 %

GPN strojirna s.r.o.Czech Republic 90 %

Greiner Extrusion S.A.S.France 90 %

Solufip S.A.S.France 24 %

Greiner Extrusion, Inc.USA 100 %

vendor finance GmbHAustria 49 %

Greiner Extrusion sp. z o.o.Poland 100 %

EUROFOAM Polska Sp. z o.o.Poland 100 %

Eurofoam GmbHAustria 50 %

Greiner Perfoam GmbHAustria 100 %

EUROFOAM Hungary Kft.Hungary 100 %

Porolon TzOVUkraine 95 %



S.C. FLEXI MOB TRADING S.R.L. · Romania 50 %

Caria Sp. z o.o.Poland 51%

EUROFOAM Sunderi d.o.o.Serbia 100 %

Poly spol. s.r.o.Slovakia 100 %

PPHiU “Kerko“ Sp. z o.o.Poland 51.7 %

UAB LITFOAMLithuania 60 %

“EUROFOAM-KALININGRAD“ LLC Russia 100 %

Greiner Technology & Innovation GmbHAustria 100 %

Greiner Renewable Energy GmbHAustria 100 %

Production

Distribution

Rental and administration

EUROFOAM Bohemia s.r.o.Czech Republic 100 %

BPP spol. s.r.o.Czech Republic 51.4 %

SINFO spol. s.r.o.Czech Republic 51%

EUROFOAM TP spol. s.r.o.Czech Republic 80 %

Eurofoam BG oodBulgaria 100 %

KFM-Schaumstoff GmbHGermany 100 %

EUROFOAM Deutschland GmbH Foams· Germany 100 %

Greiner MULTIfoam GmbHAustria 100 %

Greiner Foam South Africa (Pty) Ltd.South Africa 100 %

Greiner MULTIfoam Sp. z o.o.Poland 100 %

Unifoam (Pty) Ltd.South Africa 50 %

GuKo Tech GmbHGermany 100 %

Parabel J.V.Belarus (in Liquidation) 58 %

Greiner PURtec CZ spol. s.r.o.Czech Republic 100 %

Greiner PURtec GmbHAustria 100 %

Greiner aerospace CZ spol. s.r.o.Czech Republic 100 %

Greiner aerospace Inc.USA 100 %

Greiner Aerospace (Shanghai) Co., Ltd.China 100 %

Greiner aerospace GmbHAustria 100 %

GEG

GHO

Greiner Foam International GmbHAustria

Greiner Holding AGAustria

Greiner Extrusion Group GmbHAustria100 % 100 %

Greiner perfoam spol. s r.o.Czech Republic 100 %



Greiner Perfoam Automotive Interior Sys-tems Shenyang Co., Ltd. China (in Liquidation) 100 %

GREINER PERFOAM USA, INC. USA 100 %

LEGAL NOTICE

Owner and publisher: Greiner Holding AG

Greinerstraße 70

4550 Kremsmünster, Austria

Concept, design, editing: Group Communication Greiner Holding AG

Pictures: Greiner Gruppe, Greiner Packaging International, Greiner Bio-One International,

Greiner Foam International, Greiner Extrusion Group, Robert Maybach,

iStockphoto.com (t-lorien, estherpoon, yangna, cristaltran, Bartosz Hadyniak, Oleh Slobodeniuk,

Egorych, sanjeri, chuyu, Portra, hadynyah, poco_bw, Yin Yang, Rawpixel, Placebo365, nelyninell, borchee),

gettyimages.at, Joschka Fischer & Company (Sascha Baumann), Teach for Austria (David Blacher),

CAP. (Fotostudio Meister Eder), Jangu e.V. (Etienne Salborn), klimaaktiv (BMFLUW/Alexander Haiden),

Tom Mesic, Ars Electronica (Florian Voggenender, Christopher Sonnleitner), Ellen MacArthur (Martin Allen

Photography), SEA (future4you GmbH)

Telephone +43 7583 7251- 60301

Fax +43 7583 6308

[email protected]

www.greiner.at

NOTES

For reasons of simplified readability, a gender-neutral spelling was not used. For both sexes, only the

shorter, male spelling is used. With commercial rounding there can be slight differences in the calculations.

The actual development of forward-looking statements may differ from the expectations presented.

GR

EIN

ER

GR

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P A

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UA

L R

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OR

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Documents

MATERIAL OF THE FUTURE - Greiner GFI · GREINER GROUP ANNUAL REPORT 2016 FOREWORD BY THE MANAGEMENT BOARD In the 2016 financial year, we once again took another big step towards our