in mumbai, ruby macons ltd will be bought by a new yorkbased packaging and packaging solutions provider, meadwestvaco corp ltd mwv, for an unidentified amount. mwv stated that two companies have signed a definitive agreement and it expected to close by december. further details were not disclosed. ruby macons manufactures corrugated packaging material. its ownership will enable the us company to create its mark in india. a release noted the chairman and chief executive officer of mwv, john a. luke, jr., stating that acquiring ruby macons will expand mwv&rsquos leadership in the global packaging industry and toughen the company&rsquos presence in one of the most essential markets that is india. mwv is a fortune 500 company that provides packaging needs of sectors, which produce namely, healthcare, beauty, food and beverage, and agricultural products. offices and manufacturing facilities of ruby macons will be available to be used by mwv. as estimated by the industry group packaging industry association of india, the packaging industry of india ranks as the 11th largest in the world, and may grow over 18 on a yearly basis to reach 16.5 billion in 2015. source of information httpwww.livemint.comcompaniesx3gevozx2qrgtfle6x13kiuspackagingfirmmwvtoacqu…
