MWV Outlines Profitable Growth Strategies for Its Global Packaging Business
MeadWestvaco Corporation (NYSE: MWV) today hosted qualified investors and analysts at its headquarters in Richmond, Virginia, to detail the company's profitable growth strategy for its global packaging business and to outline its goal of delivering top-quartile shareholder returns.
At the meeting, senior MWV leaders presented strategies for achieving average annual growth of 5-10 percent by continuing to leverage the strong packaging platform the company has built to serve targeted end markets, including food, beverage, tobacco, personal care, home and garden, healthcare, as well as corrugated packaging in Brazil. The company highlighted the strategies it is executing across three principal growth levers – Commercial Excellence, Innovation and Emerging Markets – to deliver on the target.
$1 Billion+ of Incremental Revenue
MWV outlined strategies focused on three core growth levers - Commercial Excellence, Innovation and Emerging Markets. The company believes these strategies can deliver more than $1 billion of incremental revenue over the next three to five years.
MWV detailed its approach to identifying top priority customers based on profit potential, and then building or enhancing partnerships with those customers to create innovative solutions. The company's strategy is centered on leveraging its broad packaging capabilities to grow its share of business with the world's largest and most successful consumer packaged goods and retail companies to take advantage of new and expanding revenue opportunities over the next three to five years.
MWV also provided a first-hand look at how the company is commercializing new products based on market and consumer insights. The company outlined how it is using consumer insights capabilities in conjunction with open innovation and expertise in materials science and packaging design to accelerate speed to market with new products. MWV featured several examples of innovative new products that are in later stages of development. These innovations will help drive increased high-margin revenue over the next three to five years.
MWV has a long and successful history in emerging markets, and is already expanding its advantaged platform in Brazil (MWV Rigesa). But, it also reviewed strategies for growing its substantial business in China, as well as scaling up its participation in India. The company is addressing each region's unique needs and opportunities with a broad set of packaging capabilities and believes continued penetration of its packaging products and solutions in these markets will generate greater incremental revenue over the next three to five years.
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