WestRock Plans To Close Tacoma, Washington, Paper Mill, Which Employs Approximately 400 People
Portfolio Pulse from Benzinga Newsdesk
WestRock has announced plans to close its Tacoma, Washington paper mill, which employs around 400 people. The decision was driven by high operating costs and the need for significant capital investment. The closure will result in a reduction of approximately 60,000 annual tons of pulp and 25,000 annual tons of specialty grade capacity. Employees will receive severance and outplacement assistance.
August 04, 2023 | 10:36 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
WestRock's decision to close its Tacoma mill due to high operating costs and capital investment needs may impact its short-term financial performance. The closure will reduce its annual pulp and specialty grade capacity.
The closure of the mill will result in a reduction in WestRock's production capacity, which could negatively impact its revenues in the short term. Additionally, the costs associated with severance and outplacement assistance for the employees could also impact its financial performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100