MeadWestvaco Corp. – MWV – Will Acquire Ruby Macons Ltd
NYSE: MWV), a global leader in packaging and packaging solutions announced a definitive agreement with Mr. Alibhai Nathani and family to purchase Ruby Macons Limited, India’s top producer of corrugated packaging materials and a leader in the country’s growing industrial packaging industry. Terms of the transaction were not disclosed.
“The acquisition of Ruby Macons extends our participation in India, strengthening our presence in a market that we have targeted for profitable growth,” said John A. Luke, Jr., chairman and chief executive officer, MWV. “The Nathani family and the Ruby Macons leadership team have built a very successful business and established a best-in-class operation that boasts advantaged operational and technical leadership, strong brand awareness and reputation among converters and brand owners, a highly efficient capital model and an advantaged geographic location within India in Vapi, Gujarat. The addition of Ruby Macons boosts our ability to grow profitably in India by bringing their leading local position and capabilities in packaging materials together with our global expertise and innovation capabilities.”
“We’ve built a significant and highly-profitable industrial packaging business in Brazil over the last 60 years, and we will leverage this experience to serve the rapidly-evolving retail sector and fast-growing middle class in India. Through Ruby Macons and its converting customers, in addition to our own box plant in Pune, MWV will offer a wide range of packaging solutions that address market and consumer needs in India, including innovative solutions similar to those we’ve developed in Brazil for fresh produce, industrial products and consumer goods markets.”
“We are pleased to welcome Ruby Macons to the MWV family and are very excited about the profitable growth opportunities this acquisition creates,” concluded Luke.
About Ruby Macons Limited
Ruby Macons Limited is the market leader in corrugated packaging materials in India, producing greater than 150,000 tons annually. Soundly managed by the Nathani family since its founding in 1986, Ruby Macons Limited boasts strong operational leadership, a best-in-class reputation, high brand awareness among converters and brand owners, and advantaged geographic locations within India in Vapi and Morai, Gujarat.
About MeadWestvaco Corporation – MWV
MeadWestvaco Corporation (MWV) is a Fortune 500 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, and agricultural industries. The company also produces specialty chemicals for the automotive, energy, and infrastructure industries and maximizes the value of its land holdings through forestry operations, property development and land sales. MWV’s network of 125 facilities and 15,000 employees spans North America, South America, Europe and Asia. The company has been recognized for financial performance and environmental stewardship with a place on the Dow Jones Sustainability World Index every year since 2005.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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