MeadWestvaco
Corporation, a global leader in packaging and packaging solutions, reported a
modest sales increase for the second quarter of 2013, but lower earnings
primarily due to the previously announced outage at the company's paperboard
mill in Covington, Virginia. The company generated good revenue growth in many
targeted packaging markets, especially food, beverage, healthcare and personal
care, as well as in specialty chemicals. Results also benefited from the
contributions of the Brazilian pine chemicals business, Resitec, and the Indian
industrial packaging materials business, Ruby Macons, and from improved pricing
for industrial packaging solutions in Brazil. These benefits were partially
offset by lower forestland sales and unfavorable foreign currency exchange
during the quarter.
