MeadWestvaco Expecting Q2 Food, Beverage Profit $45-50M

MeadWestvaco Corporation

, a global leader in packaging and packaging solutions announced an expected second quarter 2013 segment profit range for the Food and Beverage business segment. The company now expects profit for the Food & Beverage segment to be between $45 and $50 million for the second quarter of 2013. The decline in year-over-year performance largely resulted from unanticipated costs and lower productivity associated with a planned major maintenance outage and subsequent start-up issues at the Covington, Va., paperboard mill. Operational impacts related to the implementation of a new information system at the mill also negatively affected segment profits. The start-up issues associated with the outage have been addressed, and the mill is now operating at full capacity. MWV will release its second quarter 2013 results on Tuesday, July 30, 2013, before the market opens.