- Rock-Tenn (RKT +4.2%) opens higher after late yesterday's news that it agreed to acquire the Simpson Tacoma Kraft paper mill in Tacoma, Wash., for ~$343M.
- RKT says the purchase price reflects an EBITDA multiple of less than 6x based on the mill's 2013 financial results and expected operating efficiencies, primarily due to the location of the mill on the west coast.
- In 2013, the mill produced 465K tons on two paper machines and two pulp dryers that made various paper grades including containerboard, specialty kraft paper and pulp; it also operates a 55 MW green biomass fuel cogeneration facility that sells electricity under a long-term contract.
- RKT says it will invest $60M in the mill over the next three years.
From other sites
at 4-traders.com (Thu, 6:18AM)
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at Benzinga.com (Jan 13, 2015)
at Nasdaq.com (Dec 29, 2014)
at Benzinga.com (Dec 18, 2014)
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