UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
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| Item 7.01. | Regulation FD Disclosure |
The following information, including the exhibit described below, shall not be deemed “filed” hereunder for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
On June 24, 2020, Packaging Corporation of America (“PCA”) notified affected employees that, due to lower demand for cut-sized paper products resulting from the COVID-19 pandemic, both paper machines and a majority of the converting operations at the Jackson, Alabama mill would continue to be temporarily idled during the months of July and August. PCA will assess market conditions for a potential restart of operations at the mill in September 2020.
Some of the statements in this report are forward-looking statements. These forward-looking statements include statements about the duration of the idling of the mill, the effect of the idling of the mill on our paper production, and the impact of the COVID-19 pandemic on our business and demand for our paper products. Statements that contain words such as “will”, “should”, “anticipate”, “believe”, “expect”, “intend”, “estimate”, “hope” or similar expressions, are forward-looking statements. These forward-looking statements are based on the current expectations of PCA. Because forward-looking statements involve inherent risks and uncertainties, the plans, actions and actual results of PCA could differ materially. Among the factors that could cause plans, actions and results to differ materially from PCA’s current expectations include the following: the impact of the COVID-19 pandemic on economic conditions affecting our paper business and demand for our paper products; general economic conditions; general industry conditions affecting our paper business, including competition, product demand and product pricing; as well as those identified under Item 1A. Risk Factors in PCA’s Annual Report on Form 10-K for the year ended December 31, 2019 as supplemented by Part II, Item 1A of PCA’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, each as filed with the Securities and Exchange Commission and available at the SEC’s website at “www.sec.gov”.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PACKAGING CORPORATION OF AMERICA | ||||||
| Dated: June 25, 2020 |
By: |
/s/ Kent A. Pflederer | ||||
| Name: |
Kent A. Pflederer | |||||
| Title: |
Senior Vice President, General Counsel and Secretary | |||||