MeadWestvaco Corp. has signed a definitive agreement with Compagnie de Saint-Gobain to acquire Saint-Gobain Calmar, a global manufacturer of plastic dispensing and spraying systems, for $710 million in cash. The transaction, which is not contingent on financing, has been approved by the board of directors of MeadWestvaco and is expected to close in the summer of 2006.
According to the company, Calmar's strong presence in key markets in the U.S. and Europe, as well as emerging markets, complement MeadWestvaco's goal of achieving global leadership in premium packaging and packaging solutions. Calmar's existing management team will remain in place. MeadWestvaco expects Calmar to have minimal impact on its earnings through 2006 and to be accretive to its earnings beginning in 2007.
For more information, visitwww.meadwestvaco.com.
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