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Deal seals platform for further growth - MWV

04-Dec-2012

MeadWestvaco has completed the deal to buy Ruby Macons and said it was a “key element” of the plan to grow in emerging markets.

India-based Ruby Macons produces over 150,000 tons of containerboard annually at two mills containing three paper machines in and around the city of Vapi, Gujarat.

Financial results for Ruby Macons will now be reported as part of MWV’s Industrial Packaging segment.

“We are excited to welcome Ruby Macons into the MWV family, marking an important step forward in our long-term commitment to growth in India,” said Peter C. Durette, senior vice president and chief strategy officer for MWV, who oversees the company’s business in India.

Ruby Macons specialise in corrugated packaging for fresh fruits and vegetables, consumer goods, and pharmaceuticals.