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MeadWestvaco
From Wikipedia, the free encyclopedia
| MeadWestvaco | |
|---|---|
 |
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| Type | Public NYSE: MWV |
| Founded | January 2002 |
| Headquarters | Richmond, Virginia |
| Key people | John A. Luke, Jr., Chairman/CEO James A. Buzzard, President E. Mark Rajkowski, CFO, Senior Vice President |
| Revenue |  6.530 Billion USD (2006) |
| Operating income | 98 Million USD (2006) |
| Net income | 93 Million USD (2006) |
| Employees | 24,000 (December, 2006) |
| Slogan | leading through innovation |
| Website | meadwestvaco.com |
MeadWestvaco Corp. NYSE: MWV is an American pulp and paper company based in Richmond, Virginia. It has approximately 24,000 employees. In February 2006, MeadWestvaco moved the corporate headquarters to Richmond, Virginia. [1]
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MeadWestvaco is a leading global producer of packaging, 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, and school and office. Its highly recognized consumer brands include Mead, AT-A-GLANCE, Day Runner,Cambridge, Columbian and Five Star. The company’s paperboard, package and paper brands include Carrier Kote, Custom Kote, Kraftpak, Printkote, Tango, Digipak, Amaray, Dosepak and Vision. 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.
| Financial Information | |||
|---|---|---|---|
| 2006 | 2005 | 2004 | |
| Net Sales (US$M) | 6,530 | 6,170 | 6,060 |
| Net Earnings (Loss) (US$M) | 93 | 28 | (349) |
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). In 2005, the Fine Papers business unit, including both Mead and Westvaco paper mills, was sold to the investment firm Cerberus Capital Management for about $2.3 billion. The new company is called NewPage Corporation and still operates in Dayton, OH.
The company owns large tracts of original Westvaco 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.
Researchers at the University of Massachusetts Amherst have identified MeadWestvaco as the 57th-largest corporate producer of air pollution in the United States, with roughly 35,000 pounds of toxic chemicals released annually into the air.[1] Major pollutants indicated by the study include sulfuric acid, chlorine dioxide, chlorine, and methyl iodide.[2]
MeadWestvaco also has a foundation, the MeadWestvaco Foundation, that primarily bases the use of its funds in the communities where MeadWestvaco operates.