The Company presented information during Investor Day that highlighted: •WestRock has the scale, differentiated strategy and the capabilities to generate attractive long-term returns for investors. •The Company expects to increase adjusted EBITDA margins in its corrugated packaging and consumer packaging segments and generate significant cash flow over the next several years, and to deploy its capital to high-return internal projects and acquisitions, and return increasing capital to stockholders. •WestRock has the opportunity to expand its margins and deploy its capital to grow adjusted EBITDA from $2.3 billion in fiscal year 2017, to more than $4 billion in fiscal year 2022. WestRock reiterated its fiscal 2018 guidance for revenue of at least $16.3 billion, adjusted segment EBITDA of more than $2.8 billion and adjusted operating cash flow of at least $2.3 billion. Click Read More below for additional information.
Sonoco-Alcore S.a.r.l. today announced it will raise prices for paper-based tubes and cores by at least 5.5 percent, depending on the type of product, to all customers in Italy and Spain effective with shipments beginning on 13th July.
“After a period of stability in our base raw materials, we are now seeing market rises in OCC (old corrugated containers) in a number of European countries. With Asian countries again sourcing raw materials in Europe, supply has become constrained and naturally prices are rising. The most recent sustained moves have been in Italy and Finland. While we have yet announced changes in Finland, we continue to monitor this situation closely,” said Karsten Kemmerling, director of sales and marketing, Tubes and Cores, Europe. “We are doing all we can to keep costs under control, but with coreboard rising by €50 per ton, we can no longer absorb these and other costs without adjusting our selling prices for tubes and cores.”
Sonoco Alcore S.a.r.l. is wholly owned by Sonoco (NYSE:SON) and operates 29 tubes and cores plants and five paperboard mills in Europe, including a mill and three tube and core converting facilities in Italy and one plant in Spain.