Business News
MWV to Streamline Envelope Manufacturing Operations
Friday 23. January 2009 - MeadWestvaco Corporation (NYSE: MWV) announced today it will discontinue its Consumer & Office Products envelope manufacturing and distribution operation at the plant located in Enfield, Conn., and restructure envelope operations in other areas. These actions are part of the companys accelerated strategic cost management plan, announced Jan. 15, to reduce its overhead cost structure, optimize its manufacturing footprint, and realize sourcing savings throughout its supply chain.
The Enfield facility manufactures and distributes envelope products for the billing, financial and direct mail markets. Production, including some equipment, will be transferred to other Envelope Products Group facilities, and the companys capacity to service customers and supply products will not be affected.
Other actions include the streamlining of envelope operations at its Atlanta, Ga., facility and restructuring its sales function and staffing at its corporate office in Springfield, Mass.
These operational changes will begin immediately and are expected to be completed in 60 days. Approximately 190 hourly and salaried positions will be affected. Affected salaried employees will be eligible for separation benefits in accordance with company policy. Separation benefits for hourly employees will be the subject of discussion with their union representative.