$WRK (WestRock Company)

$WRK {{ '2016-04-04T04:42:21+0000' | timeago}} • Announcement

Corrugated packaging company $WRK and Grupo Gondi announced they have completed a JV combining their Mexican paper and packaging operations. The merger was approved by Mexicoâ??s Antitrust Authority, the COFECE, and the companies will start operating in Mexico as a single entity immediately.

$WRK {{ '2017-07-17T20:42:46+0000' | timeago}} • Announcement

$WRK completed its acquisition of the assets of Island Container Corp. and Combined Container Industries LLC, which together are independent producers of corrugated boxes, sheets and point-of-purchase displays.

$WRK {{ '2017-06-21T20:35:32+0000' | timeago}} • Announcement

$WRK has agreed to acquire the assets of Island Container Corp. and Combined Container Industries LLC. $WRK will pay total consideration representing an EBITDA multiple of less than 4.5 times on a post-synergy basis. The consideration will be made in cash. The transaction is subject to customary closing conditions.

$WRK {{ '2017-06-09T19:00:33+0000' | timeago}} • Announcement

$WRK acquired five corrugated converting facilities in Ohio, Pennsylvania, and Louisiana from US Corrugated. The five facilities will operate as part of $WRK’s Corrugated Packaging segment. The transaction is expected to be accretive to earnings in year one.

$WRK {{ '2017-06-06T15:48:50+0000' | timeago}} • Announcement

$WRK completed acquisition of $MPSX. $WRK refinanced $MPSX debt as part of the transaction.

$WRK {{ '2017-05-24T15:30:04+0000' | timeago}} • Announcement

$WRK entered into a definitive agreement to acquire certain operations of U.S. Corrugated, an independent manufacturer of corrugated products for packaging and displays, for about $192MM in a combination of cash and WestRock stock. The transaction is expected to be accretive to earnings in year one, and is expected to close in June 2017.

$WRK {{ '2017-04-26T11:02:46+0000' | timeago}} • Announcement

$WRK's segment income for 1Q17 increased by $25MM from last year. The increase was primarily due to an increase in the Land and Development segment and a rise in the Consumer Packaging segment, partially offset by a decrease in the Corrugated Packaging segment.

$WRK {{ '2017-04-26T10:58:35+0000' | timeago}} • Announcement

$WRK reported a jump in 2Q17 earnings driven by favorable pricing and demand trends along with its unique portfolio of products and capabilities. Net income rose to $103.1MM or $0.40 per share from $56.9MM or $0.22 per share last year. Sales grew to $3.66Bil from $3.49Bil. Adjusted EPS for the latest quarter was $0.54.

$WRK {{ '2017-04-21T12:29:09+0000' | timeago}} • Announcement

$WRK's BoD declared a regular quarterly dividend of $0.40 per share on its common stock. The dividend is payable on May 15, 2017 to stockholders of record as of the close of business on May 5, 2017.

$SLGN {{ '2017-04-07T11:03:35+0000' | timeago}} • Announcement

$SLGN completed its acquisition of the dispensing systems business of $WRK. The acquisition price was $1.025Bil. $SLGN funded the purchase price for this acquisition through term and revolving loan borrowings under its senior secured credit facility, including a $800MM delayed draw term loan.

$WRK {{ '2017-01-27T17:34:51+0000' | timeago}} • Announcement

$WRK's BoD declared a regular quarterly dividend of $0.40 per share on its common stock. This dividend is payable on Feb. 20, 2017 to stockholders of record on Feb. 10, 2017.

$WRK {{ '2017-01-24T12:26:20+0000' | timeago}} • Announcement

$WRK agreed to buy $MPSX for $18 per share in cash and assumption of an estimated $873MM in net debt, for a total enterprise value of $2.28Bil. The acquisition is expected to be immediately accretive to $WRK's results, both on an EPS basis and cash flow basis, inclusive of purchase accounting adjustments.The transaction will close in $WRK's 3Q17.

$SLGN {{ '2017-01-23T16:00:38+0000' | timeago}} • Announcement

$SLGN will acquire $WRK’s specialty closures and dispensing systems business for $1.025Bil. The transaction is expected to close late 1Q17. The deal is expected to be accretive to earnings and $SLGN expects to realize operational cost synergies of $15MM within 24 months following the deal. $SLGN expects to fund this through cash and borrowings.

$WRK {{ '2017-01-23T14:26:50+0000' | timeago}} • Announcement

$WRK has entered into a definitive purchase agreement with $SLGN. Based on this agreement, $SLGN will purchase $WRK's Home, Health and Beauty business for $1.025Bil in cash plus the assumption of approx. $25MM in foreign pension liability. $WRK expects to receive net after-tax proceeds of approx. $1Bil from the divestiture.

$WRK {{ '2016-11-07T14:48:26+0000' | timeago}} • Webcast

$WRK said that on the downtime guidance in consumer packaging in 1Q17 and 3Q17, the downtime highlighted was maintenance downtime related to normal mill outages. The company added that the downtime is spread between primarily solid bleached sulfate (SBS) and coated natural kraft (CNK) and little bit in the recycled paperboard (CRB) business.

$WRK {{ '2016-11-07T14:34:23+0000' | timeago}} • Webcast

$WRK said that related to the corrugated market, the industry fundamentals are good, with box demand up 2.3% YoverY in Sept. and 1.6% YTD on an absolute basis. For the company, $WRK added that orders for its domestic containerboard was up 95,000 tons YoverY and consequently, it is seeing market to be strong and good going forward.

$WRK {{ '2016-11-07T14:17:33+0000' | timeago}} • Webcast

$WRK commented it is on track to achieve the $1Bil synergy and performance improvement goal by the end of FY18. In 1Q17, the company expects its sequential earnings to be lower, in line with the seasonal trend seen a year ago.

$WRK {{ '2016-11-07T14:13:17+0000' | timeago}} • Webcast

$WRK said the company is making good progress in monetizing its land and development portfolio and completed the $13MM after tax sale of a residential apartment complex in 4Q16. The company added that it expects to realize one-half of the $275-300MM in net after-tax free cash flow during FY17.

$WRK {{ '2016-11-07T14:05:20+0000' | timeago}} • Webcast

$WRK's North America inventory was reduced by 143,000 tons YoverY and on a sequential basis, inventory was reduced by 16,000 tons. $WRK also announced to its customers a $50 per ton price increase for domestic containerboard and corrugated packaging. In consumer packaging, folding carton sales rose 10% YoverY, driven by the Cenveo acquisition.

$WRK {{ '2016-11-07T13:51:25+0000' | timeago}} • Webcast

$WRK stated the company has sizable capacity to reinvest in its existing facilities and the flexibility to make acquisitions in future. The company added that it will continue to purchase company shares and hold leverage within the targeted range of 2.25-2.5 times.

$WRK {{ '2016-11-07T12:21:26+0000' | timeago}} • Announcement

CEO Steve Voorhees said $WRK drove solid EPS and robust cash flow through the execution of disciplined operational plan. The company has made considerable progress toward achieving $1Bil synergy and performance improvement goal and reached an annual run rate of $500MM as of the end of September, Voorhees added.

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