2023-08-01 17:38:27 ET
- WestRock Company ( NYSE: WRK ) disclosed in an SEC filing Tuesday that it plans to permanently shut down its paper mill located in Tacoma, Washington, and take a $345 million charge on it.
- The company will conclude production at the Tacoma mill by September 30, 2023.
- The charges include about $247 million in asset write-downs, $12 million in severance, and $86 million in other restructuring costs.
- The company will recognize the substantial majority of the charges in Q4 of 2023.
- About two-thirds of the charges are to be non-cash in nature.
- The charges related to severance and other restructuring costs are expected to be paid in cash over two years.
- SEC filing .
For further details see:
WestRock to permanently close Tacoma paper mill - filing