BusinessNovember 30, 1998
BUSINESS MEMO: WESTVACO EARNINGS
Westvaco Corp., a major manufacturer of paper, packaging and chemicals, has reported fourth-quarter and audited year-end sales and earnings for fiscal 1998. Westvaco, headquartered in New York, reported sales of $731.8 million in the fourth quarter, with earnings of $33.2 million, or 33 cents a share, down from $51.7 million and 51 cents a share for the same period in 1997...
Westvaco Corp., a major manufacturer of paper, packaging and chemicals, has reported fourth-quarter and audited year-end sales and earnings for fiscal 1998.
Westvaco, headquartered in New York, reported sales of $731.8 million in the fourth quarter, with earnings of $33.2 million, or 33 cents a share, down from $51.7 million and 51 cents a share for the same period in 1997.
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The company, which includes a paper processing facility at Wickliffe, Ky., reported annual sales for 1998 at $2.9 billion, down 3 percent from the totals of 1997. Net income for the fiscal year totaled $132 million, or $1.30 per share, down 18 percent from the $163 million, and $1.60 per share for 1997.
Westvaco purchases timber from a number of Southern Illinois and Southeast Missouri timber growers.
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