DELAWARE, Ohio (AP) -- Greif Inc. said Monday it is forming a joint venture with a Saudi Arabian company to handle the production of "flexible" industrial packaging.
Greif said the joint venture will include a business that makes a type of container called "flexible intermediate bulk containers," otherwise known as "big bags."
The joint venture will be with the National Scientific Company Ltd., a subsidiary of Dabbagh Group Holding Co., which is a business group out of Saudi Arabia. Greif said it will manage the joint venture.
The joint venture plans to build a factory in Saudi Arabia.
Shares of Greif were unchanged in extended trading, after the announcement.