Packaging Materials Packaging Company MWV to Acquire Ruby Macons
MeadWestvaco Corporation (MWV), packaging and packaging solutions provider, has announced a definitive agreement with Alibhai Nathani and family to purchase the Indian packaging materials speciliast Ruby Macons.
Mumbai/India – “The acquisition of Ruby Macons extends our participation in India, strengthening our presence in a market that we have targeted for profitable growth,” said John A. Luke, Jr., chairman and chief executive officer, MWV.
“The Nathani family and the Ruby Macons leadership team have built a very successful business and established a best-in-class operation that boasts advantaged operational and technical leadership, strong brand awareness and reputation among converters and brand owners, a highly efficient capital model and an advantaged geographic location within India in Vapi, Gujarat. The addition of Ruby Macons boosts our ability to grow profitably in India by bringing their leading local position and capabilities in packaging materials together with our global expertise and innovation capabilities.”
Acquisition of Indian Packaging Materials Specialist
"We’ve built a significant and highly-profitable industrial packaging business in Brazil over the last 60 years, and we will leverage this experience to serve the rapidly-evolving retail sector and fast-growing middle class in India. Through Ruby Macons and its converting customers, in addition to our own box plant in Pune, MWV will offer a wide range of packaging solutions that address market and consumer needs in India, including innovative solutions similar to those we've developed in Brazil for fresh produce, industrial products and consumer goods markets.”