ATLANTA (August 5, 2019) -- WestRock Company (NYSE: WRK) today announced plans to sell its property in Newberg, Oregon.
The 220-acre property, site of WestRock’s former paper mill, includes 100 acres of developable land along the Willamette River. Colliers International has been retained to assist with the sale.
“Partnering with the city, we have explored many options for developing the property,” said John Stakel, senior vice president and treasurer of WestRock. “We believe that selling it for a possible mixed-use development will provide the most value for both WestRock and the city. We are encouraged by the interest in the property and believe there is a great opportunity for a buyer to completely redevelop the property in line with the city’s proposed Riverfront Master Plan and for the long-term benefit of local residents.”
We have been fortunate that over the last several months, we have been able to repurpose some of the paper-making equipment and components at our Newberg site for use in several of our other facilities,” Stakel added.
“We applaud WestRock’s collaboration and partnership in the Riverfront Master Plan process and willingness to look at different options for the site, including possibly donating a small portion of the site, Rogers Landing, for public use,” said Rick Rogers, mayor of Newberg. “We look forward to working with WestRock and potential buyers as WestRock markets the property. The redevelopment of this important site will be key to the economic revitalization of the riverfront and Newberg.”
WestRock (NYSE: WRK) partners with our customers to provide differentiated paper and packaging solutions that help them win in the marketplace. WestRock’s team members support customers around the world from locations spanning North America, South America, Europe, Asia and Australia. Learn more at www.westrock.com.