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MeadWestvaco Corporation (MWV - Analyst Report) has affirmed its vow to purchase wood of its preference which is certified under the American Tree Farm System (ATFS). MeadWestvaco will be able to provide an economic and sustainable supply of paperboard to its customers by implementing this system.
ATFS is the largest and oldest forest management system in the U.S. that provides the mechanism to increase certified wood fiber from family forest owners. The system will help MeadWestvaco as the majority of wood used in its manufacturing process comes from privately owned, family forests.
MeadWestvaco reaffirmed its commitment towards forest certification and promoting market for certified wood by maintaining a priority market for certified wood over non-certified wood. Under this program, the company will expand its current landowner assistance system. MeadWestvaco will also track information about certified wood which is required in wood fiber based packaging across its manufacturing operations.
MeadWestvaco, in a bid to maintain its pledge, supports multiple forest certification systems including ATFS and Sustainable Forestry Initiatives (SFI) and has registered its forestlands under SFI to satisfy its customers’ demand that the fiber used in manufacturing is sourced responsibly.
Richmond, Va.-based MeadWestvaco is a global producer of packaging, coated and specialty papers, consumer and office products, and specialty chemicals. Among the principal markets that the company serves are the food, beverage, beauty & personal care, healthcare, media & entertainment, tobacco and home & garden industries.
MeadWestvaco currently retains a Zacks Rank #3 (Hold).
Packaging Corp. of America (PKG - Snapshot Report), Berry Plastics Group, Inc. (BERY - Snapshot Report) and Graphic Packaging Holding Company (GPK - Snapshot Report) also belong to the same industry where MeadWestvaco operates. While both Berry Plastics and Graphic Packaging hold a Zacks Rank #2 (Buy), Packaging Corp. of America holds a Zacks Rank #1 (Strong Buy).