Norcross, GA (GLOBE NEWSWIRE) - WestRock Company (NYSE:WRK) announced plans today to build a new corrugated box plant in the Brazilian state of Sao Paulo to meet growing demand from WestRock’s regional customers in South America.
“WestRock’s corrugated packaging business in Brazil continues to perform well, with strong relationships with customers in attractive growth markets,” said Steve Voorhees, chief executive officer, WestRock. “Our new corrugated packaging plant will enable our exceptional team in Brazil to serve these customers even better in the future, with a state-of-the-art manufacturing facility that will provide new capabilites and efficiences for our customers, and to further integrate the containerboard that we manufacture in Brazil.”
The new facility will be located in Porto Feliz and will serve all industry segments and markets both in the highly developed Sao Paulo region, as well other growing areas in Brazil’s southeast region. Construction is expected to begin later this year and be completed in mid-2019.
When completed, the Porto Feliz plant will replace the company’s existing Brazilian corrugated operations in Valinhos. The plant will be integrated with the forestry and paper production operations of the Três Barras (Santa Catarina) mill and will increase the consumption of the mill’s virgin fiber HyPerform corrugated paper, WestRock’s high-performance paper line.
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 plans to build a new corrugated box plant in the Brazilian state of Sao Paulo to meet growing demand from WestRock’s regional customers in South America, (ii) the new plant will enable WestRock to serve these customers even better in the future, with a state-of-the-art manufacturing facility that will provide new capabilities and efficiencies for WestRock’s customers and further integrating the containerboard that WestRock manufactures in Brazil, (iii) the new facility will be located in Porto Feliz and will serve all industry segments and markets in the Sao Paulo region and other growing areas inside the Brazilian southeast region, (iv) construction is expected to begin in 2017 and to be completed in mid-2019, (v) when completed, the plant will replace WestRock’s existing Brazilian corrugated operations in Valinhos and (vi) the plant will be integrated with the forestry and paper production operations of the Três Barras (Santa Catarina) mill and will increase consumption of the mill’s virgin fiber HyPerform corrugated paper. 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; our ability to obtain necessary licenses and permits for the new facility; the performance of contractors and subcontractors related to the construction of the facility and the performance of suppliers to the facility; 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, March 31, 2017 and June 30, 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, Asia and Australia. Learn more at www.westrock.com.
© 2017 GlobeNewswire, Inc. All Rights Reserved.
SOURCE: WestRock Shared Services, LLC