MWV Expands Product Offering for Commercial and Specialty Print Markets
31 Março 2015 - 10:25AM
Business Wire
Global packaging company to acquire Carolina®
business from International Paper
MeadWestvaco Corporation (NYSE: MWV), a global leader in
packaging and packaging solutions, today announced that it has
entered into a definitive agreement to acquire the Carolina® coated
bristols business from International Paper Company (NYSE: IP).
Terms of the transaction were not disclosed and the transaction is
expected to close by the end of April.
“This acquisition will expand our ability to serve the
commercial and specialty print markets,” said Bob Feeser, executive
vice president, MWV. “We are excited to bring Carolina into our
business and enhance our offerings for customers in this important
market segment. In addition, we expect significant operational
improvements when we integrate this business into our existing mill
system.”
MWV and International Paper have agreed to a plan that will
ensure minimal disruption for customers while a full and smooth
transition is completed over the next several months.
“We have grown our business by focusing on profitable segments
of the printing market such as high end retail signage and
displays, digital printing, and specialty packaging,” said Joe
McNamara, president of MWV’s tobacco and commercial print
businesses. “The Carolina business will be a long term strategic
fit that will have considerable benefits for both MWV and our
customers. We expect a seamless transition and look forward to
working with customers to address their needs in the coming months
and beyond.”
Carolina is a line of coated one-side and coated two-side solid
bleached sulfate paperboard that is available in a range of sizes,
calipers and specifications for use in offset and digital printing
end use applications such as direct mail, retail signage,
brochures, lottery tickets, game and greeting cards. As with MWV’s
Tango® business, Carolina has long been associated with providing
high quality print fidelity and image reproduction for these
applications.
About MWV
MeadWestvaco Corporation (NYSE: MWV) is a global packaging
company providing innovative solutions to the world’s most admired
brands in the healthcare, beauty and personal care, food, beverage,
home and garden, tobacco, commercial and specialty printing, and
agricultural industries. The company also produces specialty
chemicals for the automotive, energy, and infrastructure industries
and maximizes the value of its development land holdings. MWV’s
network of 125 facilities and 15,000 employees spans North America,
South America, Europe and Asia. Learn more at mwv.com.
MeadWestvaco CorporationMedia ContactTucker McNeil, +1
804-444-6397mediainquiries@mwv.comorInvestor RelationsJason
Thompson, +1 804-444-2556
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