This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MWV Will Acquire Ruby Macons Ltd. To Accelerate India Growth Strategy

MeadWestvaco Corporation (NYSE: MWV), a global leader in packaging and packaging solutions today announced a definitive agreement with Mr. Alibhai Nathani and family to purchase Ruby Macons Limited (“Ruby Macons”), India’s top producer of corrugated packaging materials and a leader in the country’s growing industrial packaging industry. Terms of the transaction were not disclosed.

“The acquisition of Ruby Macons extends our participation in India, strengthening our presence in a market that we have targeted for profitable growth,” said John A. Luke, Jr., chairman and chief executive officer, MWV. “The Nathani family and the Ruby Macons leadership team have built a very successful business and established a best-in-class operation that boasts advantaged operational and technical leadership, strong brand awareness and reputation among converters and brand owners, a highly efficient capital model and an advantaged geographic location within India in Vapi, Gujarat. The addition of Ruby Macons boosts our ability to grow profitably in India by bringing their leading local position and capabilities in packaging materials together with our global expertise and innovation capabilities.”

"We’ve built a significant and highly-profitable industrial packaging business in Brazil over the last 60 years, and we will leverage this experience to serve the rapidly-evolving retail sector and fast-growing middle class in India. Through Ruby Macons and its converting customers, in addition to our own box plant in Pune, MWV will offer a wide range of packaging solutions that address market and consumer needs in India, including innovative solutions similar to those we've developed in Brazil for fresh produce, industrial products and consumer goods markets.”

“We are pleased to welcome Ruby Macons to the MWV family and are very excited about the profitable growth opportunities this acquisition creates,” concluded Luke.

Ruby Macons is the market leader in corrugated packaging materials in India, producing greater than 150,000 tons annually with significant capacity expansion underway. Founded and managed by the Nathani family since 1986, Ruby Macons’ revenues were approximately $80 million over the last 12 months with double digit operating margins and strong return on capital. The company has achieved greater than 20 percent average growth over the last several years and is poised for significant future profitable growth through the expansion plans underway.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs