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MeadWestvaco To Shut Two Plants, Cut 278 JobsReuters
March 19, 2009
NEW YORK - Packaging maker MeadWestvaco Corp (MWV.N) said on Thursday it would close two plants to cut costs, eliminating 278 hourly and salaried jobs.
The company will shut its folding carton plants in Louisa, Virginia, and Caguas, Puerto Rico, which produce paperboard packaging primarily for the personal care and healthcare markets.
In January, the company said it planned to cut 2,000 jobs, or about 10 percent of its workforce, as it closed or restructured operations at 12 to 15 manufacturing sites.
MeadWestvaco said it was working to shift its business in the healthcare and personal care markets into areas where it can see more profits.
(Reporting by Matt Daily; Editing by Steve Orlofsky)
http://www.reuters.com/article/marketsNews/idUSN1940900820090319
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