Greiner, an Upper Austrian plastics and foam company, has recently shown a different approach to the declining business environment in Europe. Despite warnings about deindustrialization and poor mood among companies, Greiner has invested over 80 percent of its 138 million euros into European locations, with 56 million euros invested in Austria.
The past year was challenging for Greiner, with a decline in sales of 9.1 percent to 2.1 billion euros. However, finance director Hannes Moser described the result as solid, and signs of recovery are already appearing in the packaging sector for the current financial year. The market environment remains challenging due to geopolitical tensions and cost increases.
Greiner’s commitment to Austria as a location is driven by favorable conditions for developing new technologies and products. The company also emphasized its sustainability strategy by acquiring a Serbian recycling company in 2022. Progress towards EU recycling goals is highlighted, along with efforts to comply with the Supply Chain Act.
In addition to investing in its employees, Greiner is focusing on artificial intelligence and sustainability. The company aims to increase the proportion of women in management positions to 40 percent by 2030. Despite global labor shortages, Greiner increased its number of employees by 9.3 percent last year to 10,544 worldwide, with a slight increase in Austria to 2,050 employees. There are currently 190 vacant positions at Greiner, including 60 positions in Austria.
Overall, Greiner’s approach stands out as a positive note amidst concerns about deindustrialization and declining investments in Europe. Its focus on sustainable development and commitment to local markets showcases a resilience that may inspire others in the region to follow suit.