NEW YORK -- Westvaco Corporation reported a $30 million drop in income for the company's fiscal year first quarter, compared to a year ago. The drop was caused by a 24 cents per share special charge.
In January, the company said it would take a pretax special charge of $25 million to respond to the recession. First quarter sales dropped 2 percent in the period to $573 million. Westvaco operates a plant at Wickliffe, Ky.
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