Packaging Corporation of America – DeRidder, LA Mill Incident
February 08 2017 - 6:44PM
Business Wire
Packaging Corporation of America (NYSE: PKG):
At approximately 11:10 am CST, Wednesday, February 8th, there
was an explosion at our DeRidder, LA paper mill. The incident
involved annual repair work being performed on piping in the pulp
mill area and resulted in three contractor fatalities. The cause of
the incident is under investigation.
Our primary concern is for the safety and well-being of the
people working on our site. The top priorities at this time are the
notification of families of the deceased contractors and
investigation of the incident with authorities.
At the time of the incident, the D1 machine was down for its
annual outage and the D3 machine was running and continues to
operate. The current assessment indicates that the annual outage
work is expected to be delayed by up to one week and the mill will
then resume full operation. Further information will be provided,
as appropriate, when it becomes available.
Cautionary Note on Forward-Looking Statements
Some of the statements in this press release are forward-looking
statements. These forward looking statements include statements
about the potential effect of the explosion described in this
release and our assessment regarding mill operations. Statements
that contain words such as “will”, “should”, “anticipate”,
“believe”, “expect”, “intend”, “estimate”, “hope” or similar
expressions, are forward-looking statements. These forward-looking
statements are based on the current expectations of PCA. Because
forward-looking statements involve inherent risks and
uncertainties, the plans, actions and actual results of PCA could
differ materially. Among the factors that could cause plans,
actions and results to differ materially from PCA’s current
expectations include the following: difficulties in completing the
annual outage or repairs at the mill; our investigation of the
incident; regulatory actions or requirements; the impact of general
economic conditions; containerboard and corrugated products general
industry conditions, including competition, product demand and
product pricing; fluctuations in wood fiber and recycled fiber
costs; fluctuations in purchased energy costs, as well as those
identified under Item 1A. Risk Factors in PCA’s Annual Report on
Form 10-K for the year ended December 31, 2015 filed with the
Securities and Exchange Commission and available at the SEC’s
website at “www.sec.gov”.
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version on businesswire.com: http://www.businesswire.com/news/home/20170208006347/en/
Packaging Corporation of AmericaBarbara SessionsINVESTOR
RELATIONS: (877) 454-2509PCA’s Website: www.packagingcorp.com
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