MeadWestvaco Corp. (MWV)

devoish (99.65) Submitted: 10/25/2008 8:36:55 PM : Start Price: $12.40 MWV Score: +5.42

Company operates in four segments. Consumer packaging, wherein they assist customers in packaging that will appeal to consumers, and is mostly recycled paper and plastic product which will likely become cheaper. Varies from beer cartons to pill bottles. Sales have increased even in a down market as they have been able to pass along increased costs. Emphasis on "brand building" for their clients. Solid packaging growth in Asia and Brazil (where it is a substantial landowner) from recent acquisitions along with currency benefit is excellent, helping slower growth in North America, but at least it is still growth, which they atribute to a better mix of products, newer better products and the ability to increase price. Seems to be able to adapt its packaging styling succesfully to different markets, Eastern Europe, Brazil, Asia.
Specialty chemicals which include carbon for filters has been hurt by reduced auto sales but is finding other filtration markets. An asphalt solution which saves 50% of the cost of heating asphalt by lowering the temperatures required, and has done very well.
2007 share buybacks mean the stock has fallen further than it appears from just looking at price. July is usually a low point for the stock before sales increase for school in the following quarter. 4% dividend is nice. Sold off substantial N American land in 2006/7 and paper mills.