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Business Description
MeadWestvaco Corporation, through its wholly owned subsidiaries, Mead and Westvaco, is a global producer of packaging, coated and specialty papers, consumer and office products and specialty chemicals. MeadWestvaco operates in 33 countries and serves customers in approximately 100 nations. Using sustainable forestry practices, MeadWestvaco manages 3.5 million acres of forests. The Company operates in four divisions: packaging, coated and specialty papers, consumer and office products and specialty chemicals. The Company was formed in January 2002 via the merger of The Mead Corporation and Westvaco Corporation.

Financial Information
MeadWestvaco Corporation manufactures pulp and paper; produces lumber and timber; manufactures specialty chemicals; and engages in land development. For the comparable six months ended 06/02, revenues rose 76% to $3.47 billion. Net loss before accounting change totaled $71 million, vs. a net income of $40 million. Revenues reflect the merger of the Mead Corporation and Westvaco Corporation completed during the first quarter of 2002, offset by lower gross margin.