RICHMOND, Va.--(BUSINESS WIRE)--Apr. 30, 2015--
MeadWestvaco Corporation (NYSE: MWV),
a global leader in packaging and packaging solutions, today announced
the completion of the previously announced agreement with International
Paper (NYSE: IP) to acquire the Carolina® coated bristols business.
There were no manufacturing assets included in the purchase. Terms of
the transaction were not disclosed.
MWV and International Paper have agreed to a plan that will ensure
minimal disruption for customers while a full and smooth transition is
completed. That plan includes IP continuing to manufacture Carolina for
MWV until the transition is complete in the fourth quarter of 2015.
Carolina is a line of coated one-sided and coated two-sided 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.
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.
Source: MeadWestvaco Corporation
Jason Thompson, +1 804-444-2556