Graphic Packaging Announces Kalamazoo, Michigan Mill for New Coated Recycled Board Machine Investment
Sept. 24, 2019 - Graphic Packaging Holding Company today announced that its Kalamazoo, Michigan mill will be the location for the new coated recycled board (CRB) machine. The company will invest $600 million in the project, and the machine is expected to have an annual capacity of approximately 500,000 tons. The CRB machine is designed to be the largest and lowest cost producer of CRB in North America. Upon completion of the project, Graphic Packaging believes the CRB machine will produce the highest quality coated recycled board product in North America with the lowest-caliper capabilities in the industry. Graphic Packaging expects the investment will be capacity neutral by eliminating higher cost production at other facilities and will deliver an incremental $100 million in annualized EBITDA upon full ramp up in 2022. The investment will be funded from cash flow and existing credit facilities with most of the spending occurring in 2020 and 2021. Graphic Packaging Holding Company, headquartered in Atlanta, Georgia, is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies. The company is one of the largest producers of folding cartons and holds a leading market position in coated-unbleached kraft and coated-recycled board. To learn more about Graphic Packaging, please visit: www.graphicpkg.com. SOURCE: Graphic Packaging Holding Company Go to a related story on PaperAge.com: |