Shares of WestRock Co (NYSE:WRK) ended Friday session in green amid volatile trading. The shares closed up +1.18 points or 2.54% at $47.72 with 3.44 million shares getting traded. Post opening the session at $47.20, the shares hit an intraday low of $46.88 and an intraday high of $48.93 and the price vacillated in this range throughout the day. The company has a market cap of $11.82 billion and the numbers of outstanding shares have been calculated to be 251.49 million shares.
WestRock Co (WRK) on Sept. 08, 2016 announced it will settle $2.5 billion in pension obligations of the WestRock Company Consolidated Pension Plan (“Plan”). This transaction, which is expected to close in late September and is subject to closing conditions, will occur through the purchase of a group annuity contract using Plan assets that will transfer payment responsibility for retirement benefits owed to approximately 35,000 U.S. retirees and their beneficiaries to The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc. (PRU). This settlement will reduce WestRock’s overall U.S. pension obligations by approximately 40%. The monthly retirement benefit payment amounts currently received by retirees and their beneficiaries are not changing. Those Plan participants not included in the transaction are staying in the Plan.
“WestRock is committed to the long-term financial health of the Plan and has taken steps to protect all participants of the Plan,” said Ward Dickson, WestRock’s chief financial officer. “This transaction represents a further step towards managing future pension cost and risk, benefiting participants remaining in the Plan while entrusting certain retirees’ and their beneficiaries’ pensions to a financially strong and secure institution with expertise in the long-term management of retirement benefits.”
Shares of Ball Corporation (NYSE:BLL) ended Friday session in green amid volatile trading. The shares closed up +0.16 points or 0.20% at $78.46 with 3.42 million shares getting traded. Post opening the session at $78.12, the shares hit an intraday low of $77.59 and an intraday high of $78.54 and the price vacillated in this range throughout the day. The company has a market cap of $13.52 billion and the numbers of outstanding shares have been calculated to be 174.23 million shares.
On Sept. 12, 2016 For the fourth consecutive year, Ball Corporation (BLL) has been listed on the Dow Jones Sustainability Index (DJSI World) and Dow Jones Sustainability Index North America (DJSI NA), and confirmed as the industry leader in sustainability among container and packaging companies.
“Sustainability has been important at Ball since our humble beginnings in 1880 and now, as a larger, more global company operating in a competitive and ever-changing market, it is a business imperative,” said John A. Hayes, chairman, president and CEO. “The Dow Jones Sustainability Indices are considered the gold standard for corporate sustainability, and we are thrilled to be recognized among the top companies in the world for our ongoing commitment to sustainability. The industry leader designation is particularly important this year, as it marks the first time we’ve been ranked as a combined organization since our acquisition of Rexam.”
Launched in 1999, the DJSI World is the first global index to track the leading sustainability-driven companies based on RobecoSAM’s analysis of financially relevant Environmental, Social, and Governance (ESG) factors and S&P DJI’s robust index methodology. RobecoSAM invited the world’s largest 3,400 companies from developed and emerging markets to take part in its annual Corporate Sustainability Assessment (CSA), which consists of more than 100 financially relevant questions, and identified the top scoring company in each of the 24 industry groups (according to GICS®).
Ball received industry-leading scores on Codes of Business Conduct, Product Stewardship, and Occupational Health and Safety. When compared to industry peers, Ball also scored high on Stakeholder Engagement, Customer Relationship Management, Materiality, Supply Chain Management, Labor Practice Indicators and Human Rights. When compared with last year’s RobecoSAM assessment, Ball improved most in the areas of Corporate Citizenship/Philanthropy, Climate Strategy, Codes of Business Conduct, Customer Relationship Management and Environmental Reporting.
“The areas where we achieved industry-leading and most improved scores align very closely with those we’ve identified as part of Drive for 10, our long-term vision for success, as well as with our updated sustainability priorities,” Hayes added. “These achievements and the progress we’ve made over the years to make Ball a more successful, sustainable company are a testament to our 18,700 employees around the world and their continued dedication to this common vision.”