BusinessDecember 4, 2000
MEMO: WESTVACO CORP. REPORTS FOURTH-QUARTER EARNINGS
Westvaco Corp., a manufacturer of paper, packaging and chemicals, has reported increased fourth-quarter and year-end sales and earnings for fiscal 2000. Westvaco, with headquarters in New York, reported that sales reached $1 billion during the fourth quarter, with earnings of $78.9 million, or 78 cents a share, up 37 percent from earnings of $57.6 million, or 58 cents a share a year ago...
Westvaco Corp., a manufacturer of paper, packaging and chemicals, has reported increased fourth-quarter and year-end sales and earnings for fiscal 2000.
Westvaco, with headquarters in New York, reported that sales reached $1 billion during the fourth quarter, with earnings of $78.9 million, or 78 cents a share, up 37 percent from earnings of $57.6 million, or 58 cents a share a year ago.
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The company, which includes a paper processing facility at Wickliffe, Ky., and forestry program in Scott County, Mo., reported annual sales for 2000 at $3.7 billion, up 31 percent from a year ago. Net income for the fiscal year totaled $245.9 million, or $2.44 a share, up 121 percent over a year ago.
Westvaco purchases timber from a number of Southern Illinois and Southeast Missouri timber growers.
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