MeadWestvaco announces JV with city-based Wadco Packaging

US-based MeadWestvaco Corp, recently announced that it will form a joint venture with Pune-based corrugated box manufacturer Wadco Packaging , by purchasing a 51 per cent equity stake in the company. The MWV Wadco joint venture will extend the proven corrugated packaging design, manufacturing and technology capabilities of Wadco and MWV to India’s local fresh produce market, where there is a 40 per cent value loss of the produce before it reaches the market “The joint venture, a first of its kind in India, will help eliminate waste and strengthen supply chain efficiency by protecting products during transport to the local markets,” stated a press release.

“Wadco’s manufacturing capabilities and on-the-ground expertise combined with MWV’s advanced packaging technology will provide solutions that meet the challenges of the Indian markets,” said Bruce Thomas, senior vice president, Global Market Strategy and Emerging Markets, MWV.Under the agreement, MWV will oversee Wadco operations and Pankaj Wadhwa, current owner of Wadco, will continue to run the company as managing director.