MeadWestVaco announce resturcturing plans

17/02/06 MeadWestvaco Corporation has announced a plan aimed at strengthening the company’s position in packaging and packaging solutions in key global markets, and driving cost and operational efficiencies. The company’s plans include realigning its packaging businesses, establishing a new research-focused Packaging Innovation Center in Raleigh, North Carolina, and consolidating its U.S. corporate locations and key administrative functions into a new headquarters in Richmond, Virginia.

The company’s six divisions in its Packaging segment will transition into two focused packaging groups: the new Packaging Resources Group will serve customers of the company’s paperboard businesses; the new Consumer Solutions Group will focus on providing a full range of consumer packaging solutions. The new structure will enhance innovation and collaboration across the company’s entire packaging value chain and streamline operational efficiency, resulting in a more responsive, flexible organization. Leadership for the new groups will be: Robert A. (Bob) Feeser, president, Packaging Resources Group; and William J. (Bill) Biedenharn, president, Consumer Solutions Group.

To further support MeadWestvaco’s strategy and emphasis on innovation and technology, the company plans to establish a Packaging Innovation Center in Raleigh, North Carolina. This new Center, to be led by Dr. Jack C. Goldfrank, will house research and development, emerging packaging technologies, material sciences and other packaging innovation resources.

“MeadWestvaco’s strategy is to be the global leader in packaging and packaging solutions. To succeed, we must establish the right business model and the right structure,” said John A. Luke, Jr., chairman and chief executive officer. “We are aligning our organization along targeted global market segments where we can establish leading positions, and we are strategically expanding into key global geographies to better meet our customers’ needs. Our new, focused packaging platform allows us to leverage the strength of each packaging business while creating a more valuable shared resource for our global packaging customers.”