Graphic Packaging to decommission K3 CRB machine (125K tons/yr) as part of network optimization

GRAPHIC PACKAGING HOLDING CO

K3 machine ceased operation July 1, 2023; permanently shuttered Oct 4 as part of CRB optimization plan announced in 2019.
Machine capacity 125,000 tons per annum; Kalamazoo facility retains two other CRB machines.
New K2 CRB machine reached quality, cost, and volume commitments ahead of schedule, enabling the shutdown.
Decommissioning not expected to affect 2023 projected Adjusted EBITDA of $1.9B midpoint.

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