- Overall volume grew 3%, with retail food and beverage packaging in North America, and healthcare adherence packaging and plastic medical dispensers leading the gains
- Building leading positions to “outperform the broader market and demand trends, but also provide solid foundation to deliver on long-term performance goals”
MeadWestvaco (MWV) has announced sales during the third quarter of US$1.4 billion, matching the performance of the company during the same period of 2011, with overall volumes up three percent.
The company said it recorded solid volume growth, improved pricing and a favorable product mix during the third quarter, which were offset by the impact of unfavorable foreign currency exchange and lower land sales.
However, its overall volume grew approximately three percent, led by gains in markets for corrugated packaging in Brazil, retail food and beverage packaging in North America, and healthcare adherence packaging and plastic medical dispensers.
Sales of specialty chemicals for asphalt paving and oilfield drilling markets also helped volume growth.
John A. Luke, Jr., MWV chairman and chief executive officer, said: ‘Our profitable growth strategy is working in the packaging and specialty chemicals end markets we have targeted.
‘We are building leading positions that are not only helping us outperform the broader market and demand trends we're seeing today, but also providing a solid foundation from which we can deliver on our long-term performance goals.
‘The profitable growth we are generating is the direct result of a relentless focus on four strategic priorities – commercial excellence, insights-driven innovation, emerging markets growth and expanded participation.
‘Progress in each of these areas across our business, along with benefits from our significant expansion in Brazil and ongoing productivity programs, will continue to drive MWV forward through the challenging external environment we are still facing in the near-term.’
Read more on MWV here
Read more about pharmaceutical packaging here
Read more news from North America here