MeadWestvaco Corp. (NYSE: MWV), Richmond, VA, has agreed to sell its Specialty Papers business in South Lee, MA, to Onyx Specialty Papers Inc.
The business produces decorative laminate products for commercial and residential markets, transmission products for the automotive industry, as well as other industrial specialty papers for various markets. The sale is expected to be completed in early December 2009. Upon completion of the sale, MWV will fully exit the Specialty Papers business.
Onyx Specialty Papers is a new business formed by the plant’s current general manager and vice president of Sales and Business Development.
MeadWestvaco provides packaging solutions. The company’s businesses also include Consumer & Office Products, Specialty Chemicals, and the Community Development and Land Management Group. MWV operates in 30 countries and serves customers in more than 100 countries.
