According to the company’s website press release on May 2, 2023, Ingevity Corporation (NYSE:NGVT) announced that operations at the company’s North Charleston, South Carolina, plant will continue as normal with the announced closure of WestRock Company’s (NYSE:WRK) North Charleston, South Carolina, paper mill. The two companies will work together to transition limited shared services ahead of the August 31, 2023, closure of the WestRock facility. The companies share a common history, but Ingevity has operated as a stand-alone public company since May of 2016.
“While we anticipate some cost with the transition of shared services, we expect minimal disruption to our operations,” said Ingevity president and CEO, John Fortson. “Our primary focus as WestRock exits their plant site is to ensure safe operations and continue to meet the needs of our customers.”
WestRock’s plant closure does not impact Ingevity’s recently announced long-term supply agreement for crude tall oil (CTO) with WestRock.
Ingevity: Purify, Protect and Enhance
Ingevity provides products and technologies that purify, protect and enhance the world around us. Through a team of talented and experienced people, we develop, manufacture and bring to market solutions that help customers solve complex problems and make the world more sustainable. We operate in three reporting segments: Performance Chemicals, which includes specialty chemicals and pavement technologies; Advanced Polymer Technologies, which includes biodegradable plastics and polyurethane materials; and Performance Materials, which includes activated carbon. Our products are used in a variety of demanding applications, including adhesives, agrochemicals, asphalt paving, bioplastics, coatings, elastomers, lubricants, pavement markings, publication inks, oil exploration and production and automotive components that reduce gasoline vapor emissions. Headquartered in North Charleston, South Carolina, Ingevity operates from 31 countries around the world and employs approximately 2,050 people. The company’s common stock is traded on the New York Stock Exchange (NYSE:NGVT). For more information visit www.ingevity.com. Follow Ingevity on LinkedIn.
Contact:
Caroline Monahan
843-740-2068
Investors:
John E. Nypaver, Jr.
843-740-2002
