MeadWestvaco has reported year-over-year earnings growth for the first quarter of 2010, reflecting overall higher volumes in targeted markets across its global packaging, consumer and office products and specialty chemicals businesses, as well as from an improved cost structure.
The company's businesses continued to benefit from consistent execution of strategies focused on participating in growing markets with differentiated products, reducing overhead costs and enhancing manufacturing productivity. Pre-tax earnings from the company's business segments increased 25 percent to $105 million from $84 million in the first quarter of 2009.
"MWV delivered another solid earnings performance in the first quarter -- our fourth consecutive quarter of year-over-year profit growth during this difficult economic period," said John A. Luke, Jr., chairman and chief executive officer. "This positive momentum comes directly from continued success with our strategic priorities focused on market participation choices and business model improvements.”