There's no more Mergeco, NewCo or TopCo for RockTenn, the Norcross paper and packaging company that is merging with Richmond-based MeadWestvaco, and had yet to choose a name.
That new name will be WestRock, both companies announced Monday.
Steve Voorhees, the CEO of the combined company and of RockTenn, said in a statement that the new name "draws on the strongest elements" of each company's identity.
“The name speaks to our determination to build on the long track record of success and growth that has been established by both companies,” he said. “WestRock’s aspiration is to be the premier partner and unrivaled provider of winning paper and packaging solutions for our customers.”
The merger is on track to close before the end of June, RockTenn spokeswoman Robin Keegan said. The companies have already received antitrust approval, and expect shareholders and other regulators to approve the merger in June.
WestRock will have 42,000 employees at more than 300 operating facilities, the release said, and will be known as WRK on the New York Stock Exchange. Other details of the merger, announced in January, are still in flux.
While WestRock's operations center will remain in Georgia, the company's business address will move to Virginia. Voorhees has said that he intends to continue working out of metro Atlanta.
The companies have said they expect $300 million in savings over three years in the merger. The combination will create a $16 billion company, the second-largest packaging company in the world.
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