NORCROSS, Ga., June 09, 2017 (GLOBE NEWSWIRE) -- WestRock Company (NYSE:WRK) today announced that it has completed the acquisition of certain operations of U.S. Corrugated, a large independent manufacturer of corrugated products for packaging and displays.
WestRock acquired five corrugated converting facilities in Ohio, Pennsylvania, and Louisiana from U.S. Corrugated, through which it provides a comprehensive suite of products and services to customers in a variety of end markets, including food & beverage, pharmaceuticals and consumer electronics.
The five facilities will operate as part of WestRock’s Corrugated Packaging segment. WestRock intends to integrate 105,000 tons of containerboard converted annually by the acquired facilities and another 50,000 tons under a long-term contract with a newly created company formed from the remaining assets of U.S. Corrugated. The transaction is expected to be accretive to earnings in year one.
This release contains forward-looking statements that are based on management’s current views and assumptions 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 include statements such as that (i) WestRock intends to integrate 105,000 tons of containerboard converted annually by the acquired facilities and another 50,000 tons under a long-term contract and (ii) the transaction is expected to be accretive to earnings in year one. Factors that may affect actual results include, but are not limited to, economic, competitive and market conditions generally, volumes and price levels of purchases by customers; and competitive conditions in WestRock’s businesses and possible adverse actions of their customers, competitors and suppliers. Please refer to the cautionary statements set forth in Item 1A of WestRock’s Annual Report on Form 10-K for the year ended September 30, 2016 and Quarterly Reports on Form 10-Q for the quarters ended December 31, 2016 and March 31, 2017. WestRock undertakes no duty to update forward-looking statements.
WestRock (NYSE:WRK) partners with our customers to provide differentiated paper and packaging solutions that help them win in the marketplace. WestRock’s 45,000 team members support customers around the world from more than 300 operating and business locations spanning North America, South America, Europe and Asia. Learn more at www.westrock.com.
Matt Tractenberg, 470-328-6327
Vice President, Head of Investor Relations
John Stakel, 678-291-7901
Senior Vice President - Treasurer
Donna Owens Cox, 470-328-6397
Chief Communications Officer
Source:WestRock Shared Services, LLC