Fourth Quarter 2017 Highlights: • Earned $0.76 per diluted share and $0.87 of adjusted earnings per diluted share. Our effective tax rate was 20.7%, and our adjusted tax rate was 28.4% • Generated net cash provided by operating activities of $494 million and adjusted free cash flow of $271 million • Achieved $80 million in year-over-year productivity and a run rate of $840 million of synergy and performance improvements since the merger. Full Year 2017 and Other Highlights: • Earned $2.77 per diluted share and $2.62 of adjusted earnings per diluted share • Generated net cash provided by operating activities of $1.90 billion ad adjusted free cash flow of $1.22 billion • Achieved $361 million of productivity year-over-year • Continued our portfolio transformation by: • Completing five acquisitions, including the acquisition of Multi Packaging Solutions International Limited (“MPS”). These acquisitions: º Advanced our strategy to provide differentiated, high value-added solutions to our customers and expanded our presence in attractive end markets º Created opportunities for meaningful synergies and performance improvements, and º Increased our vertical integration levels • Selling the Home, Health and Beauty business (“HH&B”) in April 2017. This sale resulted in a pre-tax gain of $193 million and generated net after-tax proceeds of approximately $1 billion. Click Read More below for additional information.
WestRock Company (NYSE:WRK), a leading provider of differentiated paper and packaging solutions, was recognized for design excellence at the 74th annual North American Paperboard Packaging Competition. The company won 13 awards—the most of any entrant—including the prestigious Eco Award for its unique 8 pack designs for Budweiser and Bud Light’s 16 oz aluminum bottles.
Sponsored by the Paperboard Packaging Council (PPC), the competition is judged by a panel of packaging experts. The awards recognize cartons that represent the best in converting excellence, innovation, and sustainability that the North American folding carton industry has provided its customers over the past year.
The Eco Award recognizes an outstanding use of paperboard in replacing a non-paperboard substrate, creating extremely sustainable packaging, and/or fostering materials reductions or better cubing.
“At WestRock, we know that packaging matters in helping our customers win with consumers,” said Pete Durette, president of Enterprise Solutions & Strategy for WestRock. “We are extremely proud to have been honored by the Paperboard Packaging Council. The designs that were recognized represent the value that we can create for our customers when we combine our market insights with the design and innovation capabilities of our talented employees.”
In addition to the Eco Award, WestRock earned four gold and eight excellence awards for a variety of packaging solutions. CanCollar™, WestRock’s durable, environmentally friendly, paperboard-based multipack solution for cans, was awarded gold in all three categories. A full list is below, and images can be viewed here.
•Project Ironman: Eco Award of the year; Gold Award, General, Eco and Innovation categories
•CanCollar™: Gold Award, General, Eco and Innovation categories
•WestRock Folding Carton Tool Kit: Gold Award, General and Innovation categories
•The Vault: Gold award, General category
•Budweiser Holiday Pack: Excellence award, General category
•Econo StrongPak™: Excellence award, General category
•Two-piece Carrier: Excellence award, General category
•XYZAL® Allergy 24 HR: Excellence award, General category
•Hershey Greeting Cards: Excellence award, General category
•Sharpie® Back-to-school: Excellence award, General category
•EnShield® Promotional Packet: Excellence award, General category
•ZEPATIER® DosePak®: Excellence award, General category