MWV Seeks Acquisition Opportunities

MeadWestvaco Corp. (MWV), Richmond, Va., is seeking acquisition opportunities according to the company’s vice president of global luxury, Daniel Saksik, the website foodproductiondaily.com reports.

Saksik says the recession isn’t entirely bad and could bring many opportunities to the packaging company regarding acquisition activity. Plans are already underway for MWV to close 12 to 14 plants and cut 2,000 jobs, or 10 percent of its work force. The restructuring plans are estimated to save the company $125 million this year.

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