WestRock To Close (CONT’D FROM PAGE 5)
Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month March 2022
“A decision to close a facility and impact the lives of our employees is never easy to make,” said David B. Sewell, Chief Executive Officer at WestRock. “As we implement our plans to close the Panama City mill, we do so with great appreciation for the many contributions of the team there. We are committed to assisting our Panama City team with exploring roles at other WestRock locations and outplace- ment assistance.” WestRock is committed to improving its return on in- vested capital as well as maximizing the performance of its assets, and the Panama City mill would require significant capital investment to maintain and improve going forward. In addition, production of fluff pulp is not a priority in the company’s strategy to focus on higher value markets. By closing this mill, significant capital that would be required to keep the mill competitive in the future will be deployed to improve other key assets. The Panama City mill employs approximately 450 peo- ple. Employees of the Panama City mill will receive sev- erance and outplacement assistance in accordance with Company policy and labor union agreements. WestRock partners with its customers to provide sus- tainable paper and packaging solutions. Its team mem- bers support customers around the world from locations spanning North America, South America, Europe, Asia and Australia. Visit www.westrock.com for more information.
Year
Actual
Percent Change Avg Week Percent Change
2022 2021
37.675 37.992
-0.8
8.190 8.259
-0.8
Industry Total
Year-to Date
March 2022
Year
Actual
Percent Change Avg Week Percent Change
2022 2021
102.648 102.938
-0.3
8.019 8.170
-1.8
Industry Total
Containerboard Consumption (Thousands of Tons)
Year
Month
Percent Change Year-to-Date Percent Change
2022 2021
3.1027 3.0967
0.2
8.4866 8.4625
0.3
Container Board Inventory - Corrugator Plants (Thousands of Tons)
Corrugator Plants Only
Date
Percent Change Weeks of Supply
Percent Change
Mar. Feb.
2.2693 2.3081
-1.7
3.4 3.5
-2.9
Shipping Days
Year
Month
Year-to-Date
2022 2021
23 23
64 63
SOURCE: Fibre Box Association
www.boardconvertingnews.com
6
June 13, 2022
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