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Rock-Tenn and MeadWestvaco merger company named WestRock

American packaging companies Rock-Tenn and MeadWestvaco (MWV) have named their new $16bn merged company as WestRock.

The companies announced in January their decision to merge their businesses to form a combined consumer and corrugated packaging company.

The merger has received US antitrust approval while other regulatory and shareholder approvals are expected to be received in June.

WestRock will trade on the New York Stock Exchange under the ticker symbol WRK.

According to the companies, WestRock will garner combined net sales of $15.7bn, and will have an impact of $300m in estimated annual synergies over three years.

The new company will be owned 50.1% by MWV shareholders and 49.9% by RockTenn shareholders.
RockTenn CEO Steven Voorhees will be the CEO and president of WestRock, while MWV chairman will be the non-executive chairman.

Voorhees said: "WestRock draws on the strongest elements from each of our legacy names.

"The name speaks to our determination to build on the long track record of success and growth that has been established by both companies. WestRock’s aspiration is to be the premier partner and unrivaled provider of winning paper and packaging solutions for our customers."

WestRock will employ 42,000 staff and operating more than 300 facilities across North America, South America, Europe and Asia.

MWV’s office at Richmond, Virginia will be the headquarters of the combined company.