MWV signs Rs 1000-cr MOU with Gujarat government

The MOU was signed on 14 January 2013. This investment will expand MWV’s presence in industrial packaging and triple its sales in India. The MOU also supports around 800 employment opportunities in the Indian packaging industry. 

The MOU establishes MWV’s investment of Rs 1000-crore over a period of three to five years in the packaging and paperboard industry in India. This investment includes the purchase of Vapi-based Ruby Macons, as well as additional plans to significantly expand the current production at the facility with the installation of a new paper machine that will manufacture new paperboard products and grades. The investment and expansion plan is already underway and should yield significant increases in production starting in current year. 

John Luke, chairman and chief executive officer, MWV, said, “India is a very important market for MWV, and we are pleased to grow our presence with our acquisition and expansion in Gujarat. We see significant opportunities for higher quality and more innovative packaging solutions in the corrugated as well as consumer categories such as food, beverage, healthcare and personal care. This is largely due to the emergence of modern retail and an evolving middle class in India. Through the investment we are committed to launch competitive products that best suit India’s needs and to bring the highest standards for environmental and social responsibility to our local operations."

He further added, "We are thankful to the chief minister, Narendra Modi, and other members of his government for their continued support, and we applaud his persistent efforts focused on developing Gujarat.”

In November, MWV announced the acquisition of Ruby Macons. This investment will expand MWV’s presence in industrial and agricultural packaging in India, which already includes a converting facility in Pune making rigid, humidity-resistant corrugated packaging for fresh fruits and vegetables, consumer goods, household appliances and pharmaceuticals. 

MeadWestvaco Corporation is a Fortune 500 global packaging company. MWV’s network of 125 facilities and 15,000 employees spans North America, South America, Europe and Asia.