SECURITIES AND EXCHANGE COMMISSION
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|Item 2.05|| |
Costs Associated with Exit or Disposal Activities
On February 25, 2021, Packaging Corporation of America announced that it has discontinued the production of uncoated freesheet (UFS) grades on the Number 3 paper machine at its Jackson, Alabama mill and will convert the machine to produce virgin kraft linerboard. The planned conversion is expected to occur over the next 36 months.
Discontinuing paper operations on the machine is estimated to result in (1) total pretax cash charges of approximately $5 to $10 million; and (2) total pretax non-cash asset impairment and accelerated depreciation charges of approximately $15 to $20 million.
|Item 2.06|| |
The disclosure included under Item 2.05 is incorporated by reference into this Item 2.06.
|Item 8.01|| |
On February 25, 2021, Packaging Corporation of America issued a press release announcing that it has discontinued the production of uncoated freesheet (UFS) grades on the Number 3 paper machine at its Jackson, Alabama mill and will convert the machine to produce virgin kraft linerboard. The press release is filed herewith as Exhibit 99.1, which is incorporated by reference into this Item 8.01.
|Item 9.01.|| |
Financial Statements and Exhibits.
|99.1||Press Release issued on February 25, 2021.|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document)|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PACKAGING CORPORATION OF AMERICA
|Senior Vice President, General Counsel and Secretary|
Date: February 26, 2021