MeadWestvaco Takes Majority Position in Air Purification Business
Press release from the issuing company
STAMFORD, Conn., July 12 -- MeadWestvaco Corporation today announced the formation of a limited liability corporation which will combine the business assets of its Corrosion Technology Group with those of Bioclimatic, Inc., a leading manufacturer of air purification systems. The new business, MeadWestvaco Air Systems, has unique capabilities to serve both industrial and commercial markets. It will operate as part of MeadWestvaco's Specialty Chemicals Division.
"This enterprise combines two businesses with distinct and complementary strengths," said Benjamin F. Ward, Jr., President of MeadWestvaco's Specialty Chemicals Division. "A full-service air purification business, MeadWestvaco Air Systems is exceptionally positioned to capitalize on emerging indoor air quality applications through the development of technically advanced solutions."
Ward said MeadWestvaco's contributions to the business include leading industrial air purification products, unmatched technical service capabilities and the research and development expertise needed to quickly evaluate new technologies. Bioclimatic specializes in advanced air purification technology for hospitals, laboratories, casinos, office buildings, and archival storage applications, to name a few. Additionally, Bioclimatic's network of manufacturer representatives are well positioned to rapidly introduce new technology-based air purification solutions.
"MeadWestvaco is exploring several options to expand its high-value specialty chemicals business, including alliances such as our arrangement with Bioclimatic that provide a low-cost avenue to leverage existing assets," Ward added.
Stephen H. Zitin, President of Bioclimatic, said, "Joining forces with MeadWestvaco allows us to quickly capitalize on Bioclimatic's past successes and to implement new market-based solutions for air purification challenges."
MeadWestvaco Air Systems was created by combining assets from MeadWestvaco's Corrosion Technology Group of MeadWestvaco's Specialty Chemicals Division in Covington, Va., with Bioclimatic's operation located in Delran, N.J. The new business will operate in both locations with existing staff. The transaction does not include MeadWestvaco's activated carbon business. Customers of both businesses will continue to be served by the same representatives. MeadWestvaco owns a majority interest in the new business.
Richard H. Weatherly has been named General Manager of MeadWestvaco Air Systems. Other key senior personnel include Stephen H. Zitin, who serves as Business Manager, Commercial Products, and Jack F. Eichelsbacher, Business Manager, Industrial Products. Weatherly most recently was Vice President, Sales, for Westvaco Brand Security, Inc., a wholly owned MeadWestvaco subsidiary, and previously worked for 18 years in sales and marketing for the Specialty Chemicals Division. Zitin, founder of Bioclimatic, served as President. Eichelsbacher joined the Corrosion Technology Group in 1985 and most recently served as Business Manager, directing sales and technical service teams.
MeadWestvaco's Specialty Chemicals Division manufactures a broad range of value-added products for use in automotive evaporative emission controls, industrial solvent recovery systems, process stream purification, agrichemicals, textile dyestuffs, coatings, rubber, oil field products, paper sizing and printing inks. Its Corrosion Technology Group, which designs, manufactures and services its corrosion prevention systems, is a pioneer in pressurization technology and a leader in corrosion prevention standards.
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