MeadWestvaco to Shutter Two Plants

Packaging manufacturer MeadWestvaco will close two plants to cut costs, eliminating 278 hourly and salaried workers.

The company will shutter its folding carton plants in Louisa, Virginia, and Caguas, Puerto Rico. The facilities produce paperboard packaging for the personal care and health care markets.

In January, the company announced a plan to cut 2,000 jobs, or 10% of its workforce.

MeadWestvaco employs about 22,000 worldwide, and in the first nine months of 2008 earned $106 million on $5.04 billion in revenue.