WestRock Announces Plans to Close Tacoma, Wash., Paper Mill
- WestRock is taking strategic steps to optimize its operational footprint and enhance its return on invested capital.
- Transitioning the majority of production to other mills within the WestRock system demonstrates the company's commitment to serving its customers despite the closure of the Tacoma mill.
- The closure of the Tacoma mill will result in a reduction of approximately 85,000 tons of annual production capacity, which may impact the company's overall market share and revenue.
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
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About WestRock
WestRock (NYSE: WRK) is a global leader in sustainable paper and packaging solutions, with more than 58,000 teammates in the
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.
View source 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
Source: WestRock Company
FAQ
Why is WestRock closing its Tacoma mill?
How many employees will be affected by the closure?