MeadWestvaco
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MeadWestvaco Corp. Template:Nyse is an American pulp and paper company based in Stamford, Connecticut. It has approximately 30,700 employees. In February 2006, MeadWestvaco announced that they would move to Richmond, Virginia in 2008. [1]
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Overview
MeadWestvaco is a leading global producer of packaging, coated and specialty papers, consumer and office products and specialty chemicals. The company has 153 operating and office locations in 29 countries. Its global operations serve customers in nearly 100 countries that are leaders in the following markets: consumer products, personal care, pharmaceutical, media and entertainment, magazine publishing, book publishing, catalog publishing, and school and office. Its highly recognized consumer brands include Mead®, AT-A-GLANCE®, Cambridge®, Columbian® and Five Star®. The company’s paperboard, package and paper brands include Carrier Kote®, Custom Kote®, Kraftpak®, Printkote®, Tango®, DigiPak®, Amaray®, Dosepak™, Vision® and Sterling® Ultra. MeadWestvaco holds leading positions in the markets it serves through customer partnering, product innovation and brand recognition in all of its businesses. The company is committed to develop businesses that can produce above cost-of-capital returns on investment and, in doing so, create value for its shareholders. MeadWestvaco manages over 3 million acres (12,000 km²) of forestlands meeting stringent environmental standards and certified to Sustainable Forestry Initiative ® standards.
It's CEO is John A. Luke Jr.
Financial information
| Financial Information | ||
|---|---|---|
| 2002 | 2001 | |
| Net Sales (US$M) | 7,242 | N/A |
| Net Earnings (Loss) (US$M) | (389) | N/A |
| Financial information is not available for 2001 due to the merger. | ||
History
MeadWestvaco was formed in January 2002 as the result of a merger between Mead Paper of Dayton, Ohio, and Westvaco (originally the Piedmont Pulp and Paper Company and then The West Virginia Paper Company). The original Westvaco Plant was sold its Packaging and Paper business to investment firm Cerberus Capital Management for about $2.3 billion. The new company is called NewPage Corporation.
The company owns large tracts of land in northern Greenbrier County, West Virginia. The company is relatively lenient regarding recreational land use by private citizens, including hunting, fishing, and the digging of ramps, and unimproved roads can be used to access the area from Anjean and Richwood. Westvaco, however, does not tolerate destruction of property or the use of ATVs.
Foundation
MeadWestvaco also has a foundation, the MeadWestvaco Foundation, that primarily bases the use of its funds in the communities where MeadWestvaco operates.