MWV Announces Completion of the Purchase of the Carolina® Business from International Paper

MeadWestvaco Corporation (NYSE: MWV), a global leader in packaging and packaging solutions, today announced the completion of the previously announced agreement with International Paper (NYSE: IP) to acquire the Carolina® coated bristols business. There were no manufacturing assets included in the purchase. Terms of the transaction were not disclosed.

MWV and International Paper have agreed to a plan that will ensure minimal disruption for customers while a full and smooth transition is completed. That plan includes IP continuing to manufacture Carolina for MWV until the transition is complete in the fourth quarter of 2015.

Carolina is a line of coated one-sided and coated two-sided solid bleached sulfate paperboard that is available in a range of sizes, calipers and specifications for use in offset and digital printing end use applications such as direct mail, retail signage, brochures, lottery tickets, game and greeting cards. As with MWV’s Tango® business, Carolina has long been associated with providing high quality print fidelity and image reproduction for these applications.

About MWV

MeadWestvaco Corporation (NYSE: MWV) is a 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, commercial and specialty printing, and agricultural industries. The company also produces specialty chemicals for the automotive, energy, and infrastructure industries and maximizes the value of its development land holdings. MWV’s network of 125 facilities and 15,000 employees spans North America, South America, Europe and Asia. Learn more at mwv.com.

MeadWestvaco CorporationMedia ContactTucker McNeil, +1 [e-mail] RelationsJason Thompson, [phone]