WestRock Announces Plans to Close Tacoma, Wash., Paper Mill
01 Agosto 2023 - 6:15PM
Business Wire
WestRock Company (NYSE: WRK) today announced it will permanently
cease operating its paper mill in Tacoma, Washington, and will
conclude production by September 30, 2023.
WestRock is committed to improving its return on invested
capital as well as maximizing the performance of its assets. The
combination of high operating costs and the need for significant
capital investment were the determining factors in the decision to
cease operations at the mill.
“WestRock is working to optimize our operational footprint and
consolidate production in order to improve our return on invested
capital, and we have made the difficult decision to close the
Tacoma mill as part of this effort,” said David B. Sewell, chief
executive officer at WestRock. “One of the most critical factors we
consider when making the difficult decision to close a facility is
the impact it will have on the lives of our team members, and we
are committed to assisting our Tacoma team with exploring roles at
other WestRock locations and nearby companies as well as providing
outplacement assistance.”
The Tacoma mill produces kraft and white top liner and bleached
pulp for a combined annual capacity of 510,000 tons. The majority
of kraft and white top liner will be transitioned to other mills in
the WestRock system to serve our customers in North America and
international markets. Approximately 60,000 annual tons of pulp and
25,000 annual tons of specialty grade capacity will be reduced due
to the shutdown.
The Tacoma mill employs approximately 400 people. Employees will
receive severance and outplacement assistance in accordance with
WestRock policy and labor union agreements.
About WestRock
WestRock (NYSE: WRK) is a global leader in sustainable paper and
packaging solutions, with more than 58,000 teammates in the
Americas, Europe and Asia-Pacific. Our integrated packaging
capabilities offer end-to-end solutions to help customers address
their greatest challenges.
Forward-looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are based on our current
expectations, beliefs, plans or forecasts and are typically
identified by words or phrases such as “may,” “will,” “could,”
“should,” “would,” “anticipate,” “estimate,” “expect,” “project,”
“intend,” “plan,” “believe,” “target,” “prospects,” “potential” and
“forecast,” and other words, terms and phrases of similar meaning.
Forward looking statements involve estimates, expectations,
projections, goals, forecasts, assumptions, risks and
uncertainties. We caution readers that forward-looking statements
are not a guarantee of future performance and that actual results
could differ materially from those contained in forward-looking
statements. Our businesses are subject to a number of risks that
could affect any such forward-looking statements. These risks are
described in our filings with the Securities and Exchange
Commission, including in Item 1A under the caption “Risk Factors”
in our annual report on Form 10-K for the year ended September 30,
2022, and in our quarterly report on Form 10-Q for the quarter
ended March 31, 2023.
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version on businesswire.com: https://www.businesswire.com/news/home/20230801462927/en/
Media: Robby Johnson, 470-328-6397 Senior Manager,
Corporate Communications robby.b.johnson@westrock.com
Investors: Rob Quartaro, 470-328-6979 Senior Vice
President, Investor Relations robert.quartaro@westrock.com
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