UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report: July 27, 2000
WESTVACO
CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
DELAWARE 1-3013
13-1466285
(State or other) (Commission
(I.R.S. Employer
jurisdiction File Number)
Identification No.)
of incorporation)
299 PARK AVENUE, NEW YORK, NEW YORK 10171
(Zip Code)
Registrant's telephone number, including area code (212) 688-
5000
ITEM 5. OTHER EVENTS
Westvaco issued a news release on July 27, 2000, announcing that
Rigesa, Ltda., a wholly owned subsidiary of Westvaco, has reached
a definitive agreement to acquire all assets of Agaprint
Embalagens, a leading supplier of consumer packaging
in Brazil. Agaprint is a subsidiary of Nemofeffer, a
paper and envelope supplier, and produces packaging
at a plant in Sao Paulo that Agaprint shares with
other Nemofeffer operations. Agaprint's
manufacturing assets, including prepress equipment, a
modern offset press now in use and a new offset press
with capabilities unlike any similar equipment in
Brazil and scheduled for delivery in October, will be
installed in Rigesa's consumer packaging plant in
Valinhos, Brazil. A copy of the news release is
filed as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit 99 News release issued by the Company on July 27, 2000
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned thereunto duly authorized.
WESTVACO CORPORATION
By
_______________________
John W. Hetherington
Vice President and Secretary
Date: July 27, 2000
EXHIBIT INDEX
Page No.
Exhibit 99 News release issued by the Company on
July 27,2000 3
Exhibit 99
Investor Relations Contact: Roger A. Holmes (212) 318-5288
Media Contact: William P. Fuller III (212) 318-5250
FOR IMMEDIATE RELEASE:
WESTVACO TO ACQUIRE ASSETS IN BRAZIL
Transaction will expand consumer packaging operations with new capabilities
NEW YORK, NY, July 27, 2000 Rigesa, Ltda., a wholly
owned subsidiary of Westvaco Corporation (NYSE: W),
has reached a definitive agreement to acquire all
assets of Agaprint Embalagens, a leading supplier of
consumer packaging in Brazil. Under terms of the
agreement, Rigesa will assume Agaprint's supply
contracts and purchase its manufacturing equipment.
Agaprint is a subsidiary of Nemofeffer, a paper and
envelope supplier, and produces packaging at a plant
in Sao Paulo that Agaprint shares with other
Nemofeffer operations. Agaprint's manufacturing
assets, including prepress equipment, a modern offset
press now in use and a new offset press with
capabilities unlike any similar equipment in Brazil
and scheduled for delivery in October, will be
installed in Rigesa's consumer packaging plant in
Valinhos, Brazil.
"Agaprint's emphasis on providing high-quality
packaging solutions to Brazil's leading consumer
product companies makes its business a perfect fit
for Westvaco's expanding global packaging business,"
said Mark R. McMahon, President of Rigesa. Agaprint
provides packaging for food, confections and other
products to companies including Garoto, Perdigao,
Pillsbury and Quaker, to name a few.
Mr. McMahon joined Jorge Feffer, Agaprint Director,
in assuring Agaprint's customers that supply and
service commitments will be maintained during the
transfer of business. Terms of Rigesa's transaction
with Nemofeffer were not disclosed.
"By combining Agaprint's offset printing capabilities
with a flexographic press that we installed just a
year and a half ago, we will provide our customers
with a broader range of packaging solutions," said
Mr. McMahon. "That enhanced capability is at the
core of our strategy for continued growth in Brazil's
highvalue packaging markets."
Agreeing to purchase Agaprint's assets is Westvaco's
latest initiative to expand its global packaging
business. Following a strategic review in 1999, the
company reorganized its packaging business before
completing three acquisitions. In December
1999,Westvaco acquired a modern bleached paperboard
mill in Evadale, TX. In January 2000, Westvaco
acquired Mebane Packaging, the top U.S. supplier to
multinational pharmaceutical and personal care
product companies, and in July, IMPAC Group, Inc., a
leading North American and European supplier of
packaging for entertainment products, cosmetics and
health and beauty aids. Rigesa, which Westvaco has
owned since 1953, is a leading packaging supplier in
Brazil, operating two paper mills, four container
plants and one consumer packaging plant. The company
has 18 sales offices strategically located throughout
Brazil, employs about 2,000 people and is the
country's second largest producer of corrugated
packaging.
Westvaco Corporation (www.westvaco.com),
headquartered in New York, NY, is a major producer of
packaging, paper and specialty chemicals. The company
serves customers in more than 70 countries with
operations in the United States, South America, Asia
and Europe.
Certain statements in this document and elsewhere by
management of the company that are neither reported
financial results nor other historical information
are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of
1995. Such information includes, without limitation,
the business outlook, assessment of market
conditions, anticipated financial and operating
results, strategies, future plans, contingencies and
contemplated transactions of the company. Such
forward-looking statements are not guarantees of
future performance and are subject to known and
unknown risks, uncertainties and other factors which
may cause or contribute to actual results of company
operations, or the performance or achievements of the
company, or industry results, to differ materially
from those expressed, or implied by the forward
looking statements. In addition to any such risks,
uncertainties and other factors discussed elsewhere
herein, risks, uncertainties and other factors that
could cause or contribute to actual results differing
materially from those expressed in or implied by the
forward-looking statements include, but are not
limited to, competitive pricing for the company's
products; changes in raw materials, energy and other
costs; technological developments; fluctuations in
demand and changes in production capacities; changes
in economic growth in the U.S. and international
economies, especially in Asia and Brazil; government
policies and regulations, including but not limited
to those affecting the environment and the tobacco
industry; and currency movements.
