Key Developments: MeadWestvaco Corp (MWV)
35.00USD
19 Jun 2013
$-0.41 (-1.16%)
$35.41
$35.32
$35.44
$34.95
1,105,908
1,180,551
$38.39
$26.97
Latest Key Developments (Source: Significant Developments)
Meadwestvaco Corp Comments On Q2 2013 Earnings Guidance
Meadwestvaco Corp announced that for the second quarter of 2013, it expects earnings to be lower compared to year-ago levels on a continuing operations basis. The Company expects continued momentum with profitable growth strategies to drive volume improvement across targeted Packaging and Specialty Chemicals businesses. In addition, the Company is expecting to generate product pricing improvement and to benefit from recent acquisitions in the Industrial and Specialty Chemicals businesses. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.50 for the second quarter of 2013. Full Article
Meadwestvaco Corp Declares Regular Quarterly Dividend
Meadwestvaco Corp announced that its Board of Directors declared a regular quarterly dividend of $0.25 cents per common share. The payment of the dividend will be made June 3, 2013, to shareholders of record at the close of business May 2, 2013. Full Article
Meadwestvaco Corp Comments On Q1 2013 Earnings Guidance; Comments On FY 2013 Guidance
Meadwestvaco Corp announced that for the first quarter of 2013, it expects modestly lower earnings compared to the first quarter last year principally due to a difficult comparison in the Industrial segment, including higher startup expenses related to the Brazilian expansion, as well as lower earnings from land sales in the Community Development and Land Management segment. Despite what MWV expects to be a challenging demand environment, the Company expects sales, earnings and cash flow to grow in fiscal 2013 due to continued execution of the Company's profitable growth strategies, significant contribution from its expanded platform in Brazil, as well as benefits from acquired businesses. The Company reported EPS of $0.34 in the first quarter of 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $0.33 for the first quarter of 2013 and EPS of $1.76 and revenue of $5.791 billion for fiscal 2013. Full Article
Meadwestvaco Corp Regular Quarterly Dividend
Meadwestvaco Corp announced that Board of Directors declared a regular quarterly dividend of $0.25 cents per common share. The payment of the dividend will be made March 1, 2013, to shareholders of record at the close of business February 7, 2013. Full Article
Meadwestvaco Corp's MWV Specialty Chemicals Completes Acquisition Of Resitec Industria Quimica, Ltda.
Meadwestvaco Corp's MWV Specialty Chemicals announced that the completion of the purchase of Resitec Industria Quimica, Ltda. , a Brazilian company that serves the Latin American Pine Chemicals industry. The transaction was completed on Dec. 11, 2012, following government approvals. Financial results for Resitec will now be reported as part of MWV's Specialty Chemicals division. With approximately 115 employees, Resitec currently provides chemical products for the rubber, lubricants, food and adhesives markets. Its operations include a manufacturing facility located in the city of Duque de Caxias, Rio de Janeiro, an administrative office located in Barra da Tijuca, Rio de Janeiro, and a tall oil refinery in the city of Palmeira, Santa Catarina, Brazil. Full Article
Meadwestvaco Corp Completes Acquisition Of India-based Ruby Macons Limited
Meadwestvaco Corp announced that the completion of the purchase of Ruby Macons Limited ("Ruby Macons"). The India-based producer of high-quality corrugated packaging materials becomes a central component of MWV`s packaging platform in India and a key element of the Company`s plans to grow in emerging markets. The transaction was completed on Nov. 30, 2012 and financial results for Ruby Macons will be reported as part of MWV`s Industrial Packaging segment. Ruby Macons is the market leader in corrugated packaging materials in India. The company currently produces over 150,000 tons of containerboard annually at two mills containing three paper machines in and around the city of Vapi, Gujarat. These assets, as well as a significant expansion project underway, will significantly increase capacity and accelerate MWV`s profitable growth in this fast growing region. Under the terms of the transaction, all Ruby Macons employees will become MWV India employees and the Ruby Macons management team will remain in place, including Mr. Ashraf Nathani, managing director, Ruby Macons, who becomes vice chairman and president of the business. Full Article
Meadwestvaco Corp Declares Regular Quarterly Dividend
Meadwestvaco Corp announced that Board of Directors declared a regular quarterly dividend of $0.25 cents per common share. The payment of the dividend will be made December 3, 2012, to shareholders of record at the close of business November 23, 2012. Full Article
Meadwestvaco Corp's MWV Specialty Chemicals Agrees To Acquire Resitec Industria Quimica, Ltda. From AECI Ltd
Meadwestvaco Corp's MWV Specialty Chemicals announced a definitive agreement to purchase the remaining outstanding ownership stake of Resitec Industria Quimica, Ltda., a Brazilian company that serves the Latin American Pine Chemicals industry. MWV and South Africa-based AECI Limited have held a 50-50 joint venture partnership interest in Resitec for the past four years. The decision to move Resitec to one owner was made jointly. The agreement is contingent on final government approvals. Terms of the agreement were not disclosed. Full Article
Meadwestvaco Corp To Acquire Ruby Macons Ltd
Meadwestvaco Corp announced a definitive agreement with Mr. Alibhai Nathani and family to purchase Ruby Macons Limited. Terms of the transaction were not disclosed. Full Article
Meadwestvaco Corp Comments On Q3 2012 Earnings Guidance; Reaffirms Long Term Guidance
Meadwestvaco Corp announced that in the third quarter of 2012, it expects earnings to be lower compared to year-ago levels on a continuing operations basis due to weakening global demand, unfavorable foreign currency and lower land sales. This, along with sustained momentum with its profitable growth strategy that includes commercial excellence, innovation, emerging markets, and expanded participation with new technologies, gives The Company confidence in achieving its three to five year performance goals of 5% -plus annual sales growth and 7% to 10% annual earnings growth. Full Article
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