secwatch.observer — SEC 8-K summary
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Issuer:     WestRock Co (—)
CIK:        0001732845
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001157523-23-000686
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.05, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WestRock to close North Charleston paper mill by Aug 31; expects $515M in charges
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- Permanent closure of North Charleston, SC paper mill on Aug 31, 2023; 500 employees affected.
- Total charges ~$515M: $396M asset write-downs, $28M severance, $91M other restructuring costs.
- Majority of charges recognized in Q2 fiscal 2023; two-thirds non-cash, remainder cash over years.
- Mill capacity 550,000 tons/year (containerboard, kraft paper); WestRock to exit saturating kraft business.
- Closure driven by high operating costs and need for significant capital investment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1732845/000115752323000686/0001157523-23-000686-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1732845/000115752323000686/a53391299.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000686

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