George Staphos: That’s very helpful. Thanks for that. I want to come back to the specific actions that you talked through in terms of cost reductions. And I think you said lower transportation and manufacturing costs were, I think, a combined 70, if I wrote it down right, GIP 37, PPS 33. And that’s obviously from the low end of your guidance to where we are right now. What’s the lead time on taking those sorts of actions? It’s not as if you snap a finger, and it all comes into play. Said differently, when did you start working on this relative to it ultimately materializing in 2Q? And then is there a way that you can provide some clarity to us, some quantification in terms of what the steel price cost negative was from 1Q, and how it might have flipped into 2Q or do it on a year-on-year basis, what was the benefit 2Q versus 2Q? Thank you. And I’ll turn it over.
Larry Hilsheimer: So let me address the transportation manufacturing costs first. Our GIP business really jumped on this aggressively as we started to see volumes decline from like beginning of July last summer and really executed with excellence on shift management, eliminating shifts, really being hawks on overtime and also looking at improving maintenance costs and then leveraging – I mean the reason Ole spent the time he did in his opening comments on our Greif business system, our GOG group and the supply chain is those teams are delivering great value to us, playing in the spot market on the supply chain, working with vendors on negotiating better rebates and those kind of things and also managing overtime specifically well and driving costs out of our maintenance program.
So they really did well. On transportation, a lot of it that cost change is also volume-related. But also we’re starting to see improvements in some pricing on that as diesel and fuel costs are migrating a little better. PPS, you might remember, George, our customer base was telling us they expected volume to pick up in January. So even though we were seeing weakness in the fall, the teams were hesitant to pull back dramatically when they are hearing information from our customers that everybody expected things to pull up. When that didn’t materialize, they actioned very rapidly and really attacked structural over time. In the paper industry, over time is sort of – it’s structurally built in. And they worked very diligently to make sure that they take restructured shift lines and those kind of things and took out the cost.
So, those were the key elements. That’s about the timing. And so a lot of that really came to play in the second quarter when you combine all that across both of them. In terms of your question on price/cost mix on the GSE side and steel, what we saw if I go quarter-over-quarter, year-over-year, price in the – in our steel business was about down about $63 million year-over-year in our steel business, and cost though was an $88 million tailwind year-over-year flowing through that business.
George Staphos: Thank you, Larry. Thank you. I will turn it over.
Operator: [Operator Instructions] The next question comes from Gabe Hajde with Wells Fargo. Your line is open.
Gabe Hajde: Ole, very good morning and nice work on the quarter and what you guys are doing thus far.
Ole Rosgaard: Thanks Gabe.
