Breaking News

MeadWestvaco Sells New England Forestland

November 14, 2005

Stamford, CT-based MeadWestvaco Corp. completed the sale of 629,000 acres of forestland in Maine and New Hampshire to Wagner Forest Manage-ment Ltd. in December.

The sale includes a long-term fiber supply agreement for MeadWestvaco's mill in Rumford, ME. The land will continue to be managed using sustainable forestry practices, sources said.

MeadWestvaco executives said the sale is part of the company’s strategy to reduce its land holdings from 3.2 to 1.8 million acres, with the proceeds from many of the sales used to reduce debt.
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