Richmond, Virginia, USA, 17 November 2008 —- MeadWestvaco Corporation (NYSE: MWV) will discontinue operations at its MWV Packaging plant in Grover, North Carolina, in an effort to streamline costs and improve operational efficiencies. The facility produces packaging for the media and entertainment industry.
Some production at this facility will transfer to other MWV Packaging plants, and the company’s capacity to supply these products will not be affected. Closure of the Grover facility, expected by early 2009, will maximize the company’s operations and resources, enabling MWV to more efficiently serve its media customers around the world.
“The decision to close the Grover facility was a difficult but necessary one,” said Steve Scherger, president of Beverage and Media Packaging, MWV. “In today’s challenging economy, we must focus on managing the cost elements that we can directly control. This includes carefully studying our operational footprint to determine how we can create greater efficiencies that will strengthen our presence in the marketplace.”
The closure of the Grover plant will affect approximately 120 hourly and salaried employees. Affected employees will be eligible for separation benefits in accordance with company policy. The company will be working with the North Carolina Rapid Response Team to provide assistance and support.
MeadWestvaco Corporation provides packaging solutions to many of the world’s most admired brands in the healthcare, personal and beauty care, food, beverage, media and entertainment, and home and garden industries. The company's businesses include Consumer & Office Products, Specialty Chemicals, and the Community Development and Land Management Group, which sustainably manages the company’s land holdings to support its operations, and to provide for conservation, recreation, and development opportunities. With 23,000 employees worldwide, MWV operates in 30 countries and serves customers in more than 100 nations. MWV manages all of its forestlands in accordance with internationally recognized forest certification standards, and has been named to the Dow Jones Sustainability World Index for the fifth consecutive year.
For more information, visit www.mwv.com.