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WESTROCK COMPANY

(WRK)
  Report
Delayed Nyse  -  04:00 2022-09-23 pm EDT
32.10 USD   -2.22%
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WestRock Partners With Budějovickı Budvar and Mattoni 1873 to Advance Circularity Efforts in Czech Republic Beverage Industry

08/09/2022 | 07:35am EDT

WestRock Company (NYSE: WRK), a leading provider of sustainable paper and packaging solutions, has delivered its flexible and efficient Cluster-Pak® EvoTech™ packaging solution for a joint partnership between Budějovický Budvar and Mattoni 1873 to advance their shared commitment to improving circularity in the Czech Republic.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220727005854/en/

BIRGO is a non-alcoholic beer with a unique flavor profile. It is a joint partnership between Mattoni 1873 and Budějovický Budvar, produced using Westrock's Cluster-Pak® EvoTech™ packaging solution, which advances the partnership's goal of improving circularity within the Czech Republic's beverage industry. Image credit: Mattoni 1873 and Budějovický Budvar. (Photo: Business Wire)

BIRGO is a non-alcoholic beer with a unique flavor profile. It is a joint partnership between Mattoni 1873 and Budějovický Budvar, produced using Westrock's Cluster-Pak® EvoTech™ packaging solution, which advances the partnership's goal of improving circularity within the Czech Republic's beverage industry. Image credit: Mattoni 1873 and Budějovický Budvar. (Photo: Business Wire)

The solution has been deployed to package BIRGO, a non-alcoholic beer featuring unique flavor profiles developed by Mattoni in partnership with Budějovický Budvar, the Czech Republic’s largest international exporter of craft beer and the exclusive producer of BIRGO.

Cluster-Pak EvoTech features easy, repeatable changeovers along with an optimized use of water, heat and electricity to improve both energy and operating efficiencies on high-speed lines. Its use of recyclable fiber-based packaging made from materials sourced from responsibly managed forests is key to establishing circularity on the BIRGO production line.

“At WestRock, we are driving sustainability by working with customers to develop and implement eco-friendly packaging and machinery solutions that help them to advance their sustainability goals,” said Patrick Kivits, president of Consumer Packaging at WestRock. “Introducing our Cluster-Pak EvoTech solution to the Czech Republic beverage industry is an exciting example of our efforts. We look forward to helping Mattoni and its partners continue to further their sustainability goals.”

“We are excited about our new collaboration with Mattoni, not only because of the excellent product, but also because we share the same values. We are proud to be one of the first in the Czech Republic using fiber-based packaging for canned products. We expect to save 85 tons of plastic per year,” said Petr Dvořák, CEO of Budějovický Budvar. “Our partnership with WestRock advances our goals by putting circular principles into practice.”

The packaging solution is in use on a new, modern production line with an hourly capacity of up to 50,000 cans.

About WestRock
WestRock (NYSE: WRK) partners with our customers to provide sustainable paper and packaging solutions that help them win in the marketplace. WestRock’s team members support customers around the world from locations spanning North America, South America, Europe, Asia and Australia. Learn more at www.westrock.com.

Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are typically identified by words or phrases such as “may,” “will,” “could,” or “expect,” and other words, terms and phrases of similar meaning. A forward-looking statement is not a guarantee of future performance. Actual results could differ materially from those contained in the forward-looking statement due to various risks and uncertainties, which are more particularly described in our filings with the Securities and Exchange Commission, including in Part I, Item 1A “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2021. The information contained in this release speaks as of the date hereof, and the Company does not have or undertake any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.


© Business Wire 2022
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Financials (USD)
Sales 2022 21 365 M - -
Net income 2022 960 M - -
Net Debt 2022 7 490 M - -
P/E ratio 2022 8,78x
Yield 2022 3,09%
Capitalization 8 163 M 8 163 M -
EV / Sales 2022 0,73x
EV / Sales 2023 0,68x
Nbr of Employees 49 900
Free-Float 98,7%
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 32,10 $
Average target price 50,58 $
Spread / Average Target 57,6%
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Managers and Directors
David B. Sewell President, Chief Executive Officer & Director
Alexander W. Pease Chief Financial Officer & Executive Vice President
Alan D. Wilson Non-Executive Chairman
Amir Kazmi Chief Information Officer
Colleen F. Arnold Independent Director
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