- June 25, 2002, PRESS RELEASE
STAMFORD, CT -- MeadWestvaco Corp. reports a joint venture with EastPrint Ltd., resulting in the creation of a new consumer packaging company in Russia. WestvacoEastPrint will begin operations in the fall (2002), says MeadWestvaco, supplying printed paperboard packaging materials for global and Russian-based tobacco companies. The new plant will be located just inside the beltway encircling Moscow.
According the co., WestvacoEastPrint is a wholly owned subsidiary of WestvacoEastPrint Holding GmbH and combines the expertise of MeadWestvaco's global Consumer Packaging Group with a partner that has in-depth knowledge about Russian business practices. "This joint venture represents a modest financial investment," says Rita V. Foley, senior VP ahd COO of MeadWestvaco's Consumer Packaging Group. "But it's one consistent with our strategy of supporting the world's leading consumer products companies as they expand globally. Several important tobacco customers are expanding their Russian presence actively, and their packaging needs will give WestvacoEastPrint a full order from the start," Foley adds.
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