MeadWestvaco Closing Plants

MeadWestvaco Corp. said it will close two plants in Virginia and Tennessee, eliminating 455 jobs, and take a first-quarter charge in the process.

 The company plans on closing plants in Richmond, Va., and Cleveland, Tenn., by the end of June. The plants -- which convert paperboard into printed packaging for consumer products -- are part of the company's packaging business.

The plants are being closed as part of the company's plan to move away from using the gravure printing process in the United States, according to a company spokeswoman.

Over the past quarter many of the largest paper and paperboard companies have announced plans to shutter machines and even mills as these companies attempt to bring supply and demand back into balance.

Earlier this month G-P announced plans to idle several machines in Maine; while in the paperboard side most of the larger paperboard producers have taken at least one mill off line, either permanently or for an extensive period of time.