Packaging Corporation of America today reported fourth quarter net income of $104 million, or $1.07 per share. Earnings included net charges for special items, primarily for the Boise integration, of $0.4 million. Excluding special items, fourth quarter 2015 net income was $105 million, or $1.08 per share, compared to fourth quarter 2014 net income of $114 million, or $1.16 per share. Fourth quarter net sales were $1.4 billion in both 2015 and 2014. Full year 2015 earnings were $437 million, or $4.47 per share, compared to 2014 earnings of $393 million, or $3.99 per share. Full year earnings, excluding special items, were $443 million, or $4.53 per share, compared to 2014 earnings of $459 million, or $4.66 per share. Full year 2015 net sales were $5.74 billion compared to 2014 net sales of $5.85 billion.
WestRock Company (NYSE:WRK), a leading provider of differentiated paper and packaging solutions, today announced that it has entered into an agreement to acquire Schlüter Print Pharma Packaging, a German-based supplier of a full range of leaflets and booklets.
Schlüter will become part of WestRock’s Multi Packaging Solutions business.
“Schlüter has an excellent reputation as a high-quality supplier to customers in the pharmaceutical and automotive industries, and this acquisition will enable us to build our business in these growing markets,” said Marc Shore, president of WestRock’s Multi Packaging Solutions business. “It will also expand our geographical footprint to better serve customers throughout Europe.”
“We are excited about what becoming part of WestRock means for our customers and employees,” said Andreas Schlüter, owner of Schlüter Print Pharma Packaging. “We firmly believe that WestRock is well positioned to grow the business and continue developing solutions that will help our customers address the challenges they face today and in the future.”
The transaction is subject to customary closing conditions.