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ATLANTA — WestRock Firm (NYSE: WRK) as we speak introduced it is going to completely stop working its paper mill in North Charleston, South Carolina, on August 31, 2023.
“WestRock and its predecessor firms have had an extended historical past within the area working the North Charleston mill, and the contributions of the staff members over time have been enormously appreciated,” mentioned David B. Sewell, chief govt officer at WestRock. “The choice to shut a facility and influence the lives of our staff members is rarely straightforward, and we’re dedicated to aiding our North Charleston staff with exploring roles at different WestRock places and outplacement help.”
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The North Charleston mill produces containerboard, uncoated kraft paper (KraftPak®), and unbleached saturating kraft paper (DuraSorb®), with a mixed annual capability of 550,000 tons. Containerboard and uncoated kraft at the moment produced on the mill can be manufactured at different WestRock amenities. The Firm intends to exit the unbleached saturating kraft paper enterprise when the mill shutdown is accomplished.
WestRock is dedicated to bettering its return on invested capital in addition to maximizing the efficiency of its property. The mix of excessive working prices and the necessity for important capital funding had been the figuring out components within the choice to stop operations on the mill.
The North Charleston mill employs roughly 500 individuals. Workers will obtain severance and outplacement help in accordance with WestRock coverage and labor union agreements.
WestRock (NYSE: WRK) is a worldwide chief in sustainable paper and packaging options, with greater than 58,000 teammates within the Americas, Europe and Asia-Pacific. Our built-in packaging capabilities supply end-to-end options to assist prospects tackle their biggest challenges.
This press launch incorporates forward-looking statements inside the that means of the Personal Securities Litigation Reform Act of 1995. Ahead-looking statements are primarily based on our present expectations, beliefs, plans or forecasts and are sometimes recognized by phrases or phrases equivalent to “could,” “will,” “might,” “ought to,” “would,” “anticipate,” “estimate,” “count on,” “challenge,” “intend,” “plan,” “imagine,” “goal,” “prospects,” “potential” and “forecast,” and different phrases, phrases and phrases of comparable that means. Ahead trying statements contain estimates, expectations, projections, objectives, forecasts, assumptions, dangers and uncertainties. We warning readers that forward-looking statements will not be a assure of future efficiency and that precise outcomes might differ materially from these contained in forward-looking statements. Our companies are topic to a lot of common dangers that would have an effect on any such forward-looking statements. These dangers are described in our filings with the Securities and Alternate Fee, together with in Merchandise 1A beneath the caption “Threat Components” in our annual report on Kind 10-Ok for the yr ended September 30, 2022.
Robby Johnson, 470-328-6397
Senior Supervisor, Company Communications
Rob Quartaro, 470-328-6979
Senior Vice President, Investor Relations