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MeadWestvaco Completes Acquisition of Calmar

Thursday, July 06, 2006

Press release from the issuing company

STAMFORD, Conn.--July 5, 2006-- MeadWestvaco Corporation today announced that it has completed its acquisition of Calmar, a leading global manufacturer of high-quality and innovative plastic dispensing and spraying systems. Calmar was purchased from Compagnie de Saint-Gobain for a total consideration of $710 million. "Calmar is a premium business that furthers our ability to deliver innovative packaging solutions across the packaging value chain to the world's most recognized consumer products companies across large and growing global markets," said John A. Luke, Jr., chairman and chief executive officer of MeadWestvaco. "With the completion of the acquisition we now are intently focused on executing the operating and growth enhancements we have identified for our combination." As previously announced, MeadWestvaco expects Calmar to have minimal impact on its earnings through 2006, but expects that it will be accretive to its earnings beginning in 2007. MeadWestvaco funded the purchase with $340 million from new short-term borrowings and the remainder from cash on hand.




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