WestRock Posts Decent First Quarter; We View Multi-Packaging Solutions Acquisition as Value-Neutral
WestRock continued to make progress toward its goal of attaining $1 billion in synergies by 2018, but this wasn't enough to offset rising costs. Corrugated segment adjusted EBITDA fell $38 million year over year to $287 million, while Consumer segment adjusted EBITDA slipped $4 million to $215 million. The company also announced that it will reinvest the proceeds of its just-announced sale of the Home, Health, and Beauty business into Multi-Packaging Solutions, valued at $2.28 billion. Despite y...WestRock is a provider of paper and packaging solutions for consumer and corrugated packaging markets. The company partners with its customers to provide paper and packaging solutions. The company's operating and business locations are in North America, South America, Europe, Asia and Australia. The company's segments include: Corrugated Packaging, which consists of the company's containerboard mills, corrugated packaging and distribution operations, as well as its merchandising displays and recycling procurement operations; Consumer Packaging, which consists of the company's consumer mills, food and beverage and partition operations; and Land and Development, which sells real estate primarily in the Charleston, SC region.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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