- January 17, 2003, PRESS RELEASE
STAMFORD, CT, USA—MeadWestvaco Corp. reports it's closing its Westvaco Brand Security (WBS) business and merging the wholly owned subsidiary's brand-protection services into the company's core packaging business. According to the packaging manufacturer, WBS, as well as other MeadWestvaco business units, have found strong market interest in brand-protection initiatives, particularly for packaging applications. The co. says it recently determined, however, WBS's services could be provided more efficiently and effectively through existing corporate channels rather than through a stand-alone business model.
Explains Donald F. Armagnac, president, MeadWestvaco New Ventures Group, "The strategic realignment of our brand-protection service offerings is consistent with our merger-integration objectives of providing excellent customer service with controlled costs and increased efficiency." He adds, "Leveraging the capabilities of well-established company resources, which will coordinate efforts with existing WBS suppliers, when appropriate, MeadWestvaco will continue to offer its customers a range of highly effective services to combat product counterfeiting, [unauthorized] diversion, duplication, substitution, tampering, warranty fraud, and other manners of brand theft."
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