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Packaging Corporation of America (NYSE: PKG), Lake Forest, IL, reported full year sales for 2013 of $3.7 billion, an increase of 32.1 percent from the previous year. Profit more than doubled to $436.3 million, compared to $163.8 million in 2012.
Sales for the fourth quarter were $1.3 billion, a 76.4 percent increase over the same period a year ago. Profit more than tripled to $227 million from $61 million in the fourth quarter of 2012.
PCA also completed their acquisition of Boise Inc. on Oct. 25 of this year.
“The integration of Boise’s operations with PCA is well underway, and we are finding additional synergy opportunities as the process continues," said Mark W. Kowlzan, CEO of PCA. "For the year, our earnings were up 60 percent over 2012’s record earnings, and we have been able to pay down $150 million in debt since the acquisition."