The company said on Tuesday, April 30, 2025, that it will permanently close its coated recycled board (CRB) mill in St. Paul, Minnesota, and discontinue production at its containerboard mill in Forney, Texas. It has also started consultations with works councils to permanently close 2 converting facilities in Germany.

1. 01

   The company said on Tuesday, April 30, 2025, that it will permanently close its coated recycled board (CRB) mill in St. Paul, Minnesota, and discontinue production at its containerboard mill in Forney, Texas. It has also started consultations with works councils to permanently close 2 converting facilities in Germany.

2. 02

   The company said the two mill closures are expected to reduce its containerboard and CRB capacity by more than 500,000 tons on an annualized basis. About 650 employees in the U.S. and Germany will be affected, and headcount reductions are subject to local regulatory requirements.

3. 03

   The company said it expects to incur pre-tax cash charges of about $99 million related to the closures. This includes about $42 million in severance payments to former employees and about $57 million in other restructuring costs.

4. 04

   The company said it expects pre-tax non-cash asset impairment charges of about $188 million. It said $226 million of the total charges will be recognized in Q2 2025, and the remaining $61 million over the rest of 2025 and into 2026.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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