MeadWestvaco completes deals with 2 companies
Richmond-based packaging company MeadWestvaco Corp. said that it has completed two previously announced deals.The company said it completed the sale of its European-based tobacco folding carton business to AR Packaging Group AB.
It also completed an acquisition of International Paper Co.’s Carolina coated bristols business, a printing paper business. Financial terms of the transactions were not disclosed.
No manufacturing assets were included in the purchase of the International Paper product line.
The sale of the European folding cartons business includes three plants, in Austria, Poland and Russia, that make boxes, display cartons and cigarette packaging and some folding carton packaging for candy and clothing. Also included in the sale is the tobacco and confectionery folding carton business currently served by MeadWestvaco’s plant in Svitavy, Czech Republic. The Svitavy plant will remain part of MeadWestvaco.