MeadWestvaco Packaging Resources Group
Based in Summerville, South Carolina, ArborGen develops seedlings, such as the bio-genetic loblolly pine, that sprout into fast-growing trees. Recently, a judge ruled that ArborGen and some of the nation’s top forest products companies—including International Paper, MeadWestvaco (now WestRock) and Rubicon—tricked employees into accepting incentive plan changes that depleted most of their wealth.
M&A activity has picked up in every year since 2009, and that there’s every reason to believe the forward momentum will stay strong.
Paper and packaging industry giant MeadWestvaco appears to be at the end of its life as an independent entity. The company agreed to a merger with RockTenn to form a yet-to-be-named successor company. RockTenn’s expertise in kraft paper, corrugated cartons and retail displays will combine with MeadWestvaco’s strengths in paperboard and folding cartons. The result will be a powerful player in the increasingly global packaging industry, with over $15 billion in annual revenues.
In apparent preparation for the deal with RockTenn, earlier in the month MeadWestvaco announced the spinoff of its chemical business into a separate public company.
Rock-Tenn Co. and MeadWestvaco Corp. have entered into a definitive combination agreement to create a global provider of consumer and corrugated packaging in a transaction with a combined equity value of $16 billion. The combined company, to be named prior to closing, will have combined net sales of $15.7 billion and adjusted EBITDA of $2.9 billion, including the impact of $300 million in estimated annual synergies to be achieved over three years.
Commercial printing industry news briefs, including items on Cenveo, The Marek Group, Manistique Papers, Thames Printing, Integrity Graphics, RR Donnelley, Consolidated Graphics, DME and Toyo Ink America.
STAMFORD, CT—MeadWestvaco Corp. (MWV) has agreed to sell its Envelope Products Group to Cenveo Inc., based here. The divestiture of the Envelope Products Group, which is part of MWV's Consumer & Office Products business, will better position the business for continued growth and success. The sale is expected to close at the end of 2010. Terms of the agreement were not disclosed.
“Cenveo is focused on expanding its envelope platform, and adding the Envelope Products Group underscores our continued strategic growth plan for the business,” said Robert G. Burton. The company also announced it has acquired Gilbreth Packaging Solutions.
Commercial printing industry supplier company and personnel news from Printing Impressions' October 2010 edition.
Bowne Obtains RSG Digital NEW YORK—Bowne & Co. has acquired the digital printing business of Rapid Solutions Group, a subsidiary of Janus Capital Group, for $14.5 million. RSG Digital has annual sales of about $45 million. RSG’s digital printing unit operates facilities in Chicago and Melville, NY. Genesis Printing Faces Attacks MOONVILLE, SC—Within a span of two weeks, Genesis Printing was the victim of two separate incidents, one involving racist vandalism and, the most recent, a fire that caused $5 million in damage. Police are investigating a possible connection between the two attacks on the printer. No injuries were reported due to the fire,
by Chris Bauer Managing Editor The press manufacturers’ “big iron” may have taken up mammoth amounts of floor space and received the lion’s share of headlines at PRINT 05 & CONVERTING 05, but not to be forgotten are the booths often found on the fringe of the McCormick Center’s halls. Here, there was plenty of news to be found from paper, ink and other consumables providers. For example, while donning white lab coats, executives from International Paper announced that its entire range of uncoated freesheet papers for imaging, commercial printing, envelopes and forms would be improved to a new standard of whiteness and