“We continued to make excellent progress toward building the premier global packaging company that we envisioned when we announced the strategic combination of RockTenn and MeadWestvaco just one year ago,” said Steve Voorhees, CEO of WestRock. “This quarter we delivered strong cash flows and made strategic investments to position our business for growth, while maintaining our disciplined and balanced capital allocation strategy. WestRock is realizing the strategic benefits of the merger, having already achieved an annual run rate of over $250 million of synergies and performance improvements, and we remain on track to meet our $1 billion objective by the end of fiscal 2018.”
Net sales for WestRock for the 1Q ended December 31, 2015, were $3.68 billion and segment income was $279 million. Adjusted segment income was $284 million, excluding the pre-tax impact of expensing $5 million of inventory that was stepped-up to fair value in purchase accounting, net of related LIFO.
WestRock Company is an American corrugated packaging company. It was formed in May 2015 after regulators approved the merger ofMeadWestvaco and RockTenn.
