One of the global leaders in packaging and packaging solutions, MeadWestvaco Corporation (MWV) announced the completion of the purchase of Ruby Macons Limited (Ruby Macons). This India-based producer of high-quality corrugated packaging materials becomes a central component of MWV’s packaging platform in India and a key element of the company’s plans to grow in emerging markets.
The acquisition of Ruby Macons expands MWV’s presence in industrial packaging in India, which also includes a converting facility in Pune making rigid, humidity-resistant corrugated packaging. MWV also delivers innovative packaging solutions for a variety of consumer goods markets in India, including healthcare, beauty & personal care, home & garden, and beverage. Under the terms of the transaction, all Ruby Macons employees will become MWV India employees and the Ruby Macons management team will remain in place, including Ashraf Nathani, managing director, Ruby Macons, who becomes vice chairman and president of the business.
Ruby Macons, one of the market leaders in corrugated packaging materials in India, currently produces over 150,000 tons of containerboard annually at two mills containing three paper machines in and around the city of Vapi, Gujarat. These assets, as well as a significant expansion project underway, will significantly increase capacity and accelerate MWV’s profitable growth in this fast growing region.
“We are excited to welcome Ruby Macons into the MWV family, marking an important step forward in our long-term commitment to growth in India,” said Peter C Durette, senior vice president and chief strategy officer for MWV, who oversees the company’s business in India.