RICHMOND, VA, April 30, 2015 (Business Wire) -
MeadWestvaco Corporation, a global leader in packaging and packaging solutions, today announced the completion of the previously announced sale of its European-based tobacco folding carton business to AR Packaging Group AB. Terms of the sale were not disclosed.
Included in the sale were operations at three facilities in Graz, Austria; Krakow, Poland; and Moscow, Russia, which manufacture and print hinge-lid boxes, display cartons, and high-impact cigarette packaging, as well as folding carton packaging for some chocolate confectionery and consumer apparel segments in western and eastern Europe. Also included in the sale is the tobacco and confectionery folding carton business currently served by MWV's plant in Svitavy, Czech Republic. The Svitavy plant will remain part of MWV, and the company will also continue to produce high-quality solid bleached sulfate (SBS) paperboard for global tobacco end markets at its Covington, Virginia, paperboard mill in the United States.
Deloitte Corporate Finance LLC served as adviser to MWV.
MeadWestvaco Corporation 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.