WestRock's Panama City Pulp Mill Suffers Substantial Damages From Hurricane Micheal

SEATTLE (Scrap Monster): WestRock Company provided first update following Hurricane Michael that resulted in widespread damage across Florida. The press release issued by the company noted that its containerboard and pulp mill located in Panama City, Florida sustained substantial amount of damages to buildings and equipment. Unfortunately, the mill was in the direct path of the hurricane’s landfall, it added.

According to WestRock, the company has given top priority to the safety of its employees and their families. All efforts are being made to help the community recover from the extensive damage caused by the hurricane.

The mill operations are being halted effective last Monday. The company stated that it is currently not in a position to announce the exact date by which operations could be restarted. The decision will depend upon several factors including the extent of the damage caused to the mill infrastructure, the restoration of power supply at the mill facility and the ability of affected workers to return to duty. A team of experts is currently in the process of assessing the damage, the company press release said.

Further, the press release cautioned that the storm is feared to impact the company’s operations at mills located in other states that may potentially fall in the path of the storm. Additional updates will be issued upon availability of more information, it added.

Meantime, the company is due to release its fourth quarter and full year fiscal 2018 results on Monday, Nov. 5, at 8:30 am ET.