Global packaging company MeadWestvaco (MWV) has announced the completion of its previously announced acquisition of Ruby Macons, an Indian producer of corrugated packaging materials.
Ruby Macons becomes a central component of MWV's packaging platform in India and a key element of the company's plans to grow in growing markets.
At present, the company annually produces over 150,000t of containerboard at two mills comprising three paper machines in and around the city of Vapi, Gujarat.
According to MWV, the assets and a significant expansion project, which is underway, are expected to increase its capacity and accelerate profitable growth considerably in the fast growing region.
The acquisition of Ruby Macons, which was originally announced in October 2012, expands MWV's presence in industrial packaging in India and also includes a converting facility in Pune.
The facility manufactures rigid, humidity-resistant corrugated packaging for fresh fruits and vegetables, consumer goods, household appliances and pharmaceuticals.
MWV has not disclosed the transaction value.