NORTHBROOK, Ill., Aug. 27, 2015 /PRNewswire/ -- KapStone Paper and Packaging Corporation (NYSE: KS) ("KapStone") received a notice of a work stoppage from the union at its Longview, Washington mill, AWPPW Local 153 (the "Union"), effective on August 27, 2015. KapStone has been preparing for a potential strike since the Union voted down its prior offers. KapStone is conducting a cold mill outage to perform necessary maintenance to its machines and has full contingency plans in place to continue to service its customers during the strike. After the maintenance outage, KapStone plans to run its largest machine early next week, with subsequent machine operation to follow. KapStone does not expect any interruption of service or products to its customers.
About the Company
Headquartered in Northbrook, IL, KapStone Paper and Packaging Corporation is the fifth largest producer of containerboard and corrugated packaging products and is the largest kraft paper producer in the United States. The Company has four paper mills, 21 converting plants and 65 distribution centers. The business has approximately 6,200 employees.
Statements in this news release that are not historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can often be identified by words such as "may," "will," "should," "anticipate," "believe," "estimate," "expect," "potential," "outlook," or "continue," the negative of these terms or other similar expressions. These statements reflect management's current views and are subject to risks, uncertainties and assumptions, many of which are beyond the Company's control that could cause actual results to differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially include, but are not limited to: (1) industry conditions, including changes in cost, competition, changes in the Company's product mix and demand and pricing for the Company's products; (2) market and economic factors; (3) results of legal proceedings and compliance costs; (4) the ability to achieve and effectively manage growth; (5) the ability to pay the Company's debt obligations; (6) the ability to carry out the Company's strategic initiatives and manage associated costs; (7) the ability to reach any agreement with the Union , the duration of any work stoppage and such impact; and (8) the integration of the Company's acquisitions. Further information on these and other risks and uncertainties is provided under Item 1A "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 and elsewhere in reports that the Company files with the SEC. These filings can be found on KapStone's Web site at http://www.kapstonepaper.com and the SEC's Web site at www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and the Company disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/kapstone-implements-contingency-plans-to-address-longview-union-strike-300134443.html
SOURCE KapStone Paper and Packaging Corporation