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MeadWestvaco's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Stocks in this article: MWV

Second, innovation, where we're using insights to develop new solutions that deliver valuable benefits for brand owners, retailers and consumers. We had a few exciting developments during the first quarter. Two of our adherence package, Shellpak and Dosepak, won awards from the Healthcare Compliance Packaging Council. This is an affirmation of the leadership position that we have built in this segment of the health care market. Also, during the quarter, we launched a new product, Shellpak Renew. It combines the same adherence-enhancing characteristics of our classic Shellpak with a fully recyclable paperboard format. Shellpak Renew is now in Kroger stores nationwide.

Also at Kroger's, we're running the first store trials for Captivate. As you'll recall, Captivate is a shopper-ready packaging solution that can revolutionize grocery categories. They're hard-to-stock, hard-to-shop and hard for brands to stand out on crowded store shelves. The early response to these trials is positive.

Third, emerging markets, where we're using our existing leadership positions to translate our market and consumer insights for the growing middle classes in places like Brazil, China and India. We had 5% growth in our corrugated business in Brazil during the quarter, compared to a reported industry average in Brazil of about 1%. This follows 2.7% GDP growth in Brazil in 2011 and annual projections of 3% to 4% for 2012. In China, where GDP estimates have been revised down to roughly 8% and many are closely watching trends and manufacturing output, we have low double-digit growth. Among the many highlights in China, we continue to increase sales of beverage multipacks as this format gains favor with consumers. In India, we have a modest presence and continue to proactively evaluate opportunities to expand our participation in that country where growth, while projected to be about 7% this year, is facing long-term, very attractive prospects.

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