BUSINESS MEMO: WESTVACO EARNINGS

Westvaco Corp., a 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 $771.5 million in the fourth quarter, with earnings of $57.6 million, or 58 cents a share, up from $36.2 million and 36 cents share a year ago.

The company, which includes a paper processing facility at Wickliffe, Ky., reported annual sales for 1999 at $2.8 billion, down 2 percent from last year's totals. Net income for the fiscal year totaled $111.2 million, or $1.11 a share after some nonrecurring items, down from $132 million or $1.30 a share for 1998. Westvaco purchases timber from a number of Southern Illinois and Southeast Missouri timber growers.