Posted January 20, 200520 yr Well, maybe not, but the company in it isnt going to be MeadWestvaco anymore.... Spin Off Firm Holds Potential for Dayton DDN Op-Ed MeadWestvaco's decision to sell its paper business is almost certainly good for MeadWestvaco. It could be good for Dayton. The new spin-off company that's being formed will be in Dayton, which can only be positive in the short term. As for the long term, that's more speculative....Meanwhile, though, the new company, which doesn't have a name yet, has all sorts of potential — and risk. The article doesnt say whats going to happen to the Mead Tower. I would expect the corporate logo to come off if this new company gets a different name?
January 20, 200520 yr Didn't the logo come off when it became MeadWestvaco? I don't think it was ever replaced, because a quick check of a couple of my own pictures shows no logo currently on it. (You are talking about the top of the tower, right?)
January 20, 200520 yr yeah..if thats the case, machts nichts. I never really noticed the logo coming off, but it probably is! lol...shows how often I get downtown.
January 21, 200520 yr Yes, and the shadow it left was visible from quite a distance for some time as well. I don't think you can see it anymore. Mead would be the obvious name choice for the "new" company, but I'll bet MWV hangs onto it. I do know that Mead's cardboard operations were bought by Smurfit-Stone, so the new Mead wouldn't be quite what she used to be.
May 2, 200520 yr NewPage born with MeadWestvaco division's sale By Jason Roberson www.daytondailynews.com DAYTON | MeadWestvaco Corp. on Monday completed the sale of its paper division for $2.3 billion to NewPage Corp., a Dayton-based company controlled by Cereberus Capital Management L.P., a private New-York investment firm. At the closing, MeadWestvaco received cash proceeds of approximately $2.2 billion and a promissory note of $100 million. The company expects to use $900 million to $1.1 billion of the proceeds to pay down debt and between $500 million and $700 million to return value to shareholders through stock repurchases. NewPage was scheduled to launch its Web site Monday at www.newpagecorp.com.
February 22, 200619 yr NewPage sells carbonless business, CEO resigns By Jim Dillon www.daytondailynews.com DAYTON | NewPage Corp. on Wednesday announced it will sell its $440 million carbonless paper business to York, Pa.-based Glatfelter and that President and Chief Executive Peter H. Vogel Jr. is resigning to pursue "personal interests." Glatfelter (NYSE:GLT) will pay $80 million cash for the carbonless paper business, which has 1,600 employees in Chillicothe and Fremont. The carbonless paper is made in Chillicothe and converted into different products in Fremont. Glatfelter said it would release additional details about the deal soon... Contact Jim Dillon at (937) 225-7311.
June 9, 200718 yr MeadWestvaco Tower now in foreclosure As of April, New York owners owes more than $11.1 million on property. BY LISA A. BERNARD | DAYTON DAILY NEWS June 9, 2007 DAYTON - The city's second largest office tower has fallen into foreclosure — marking the fifth downtown building to confront such a fate in the past year. According to court documents, the owners of the 27-story MeadWestvaco building stopped making payments on the $16 million property in March. CS LLC, a New York-based firm, purchased the tower in June 2001 for $16 million. As of April, the firm owes more than $11.1 million on the property... Office towers and properties to watch: 333 and 349 W. First St.: Connected by an underground parking facility, 333 seven stories and 349 is three stories. Appraised at $6 million. Purchased at auction Friday for $4 million by Titan Capital Investment Group. 111 W. First St.: Multi-level office tower, known by the large 111 displayed on the building's west side. Tenants include 1st Street Deli and Arcade Seafoods. Appraised at $4.8 million. Purchased at auction Friday by Titan Capital Investment Group for $3.2 million. 130 W. Second St.: A 21-story building commonly called the First National Plaza Building. Tenants include National City Bank and County Corp. Appraised at $10.5 million. Purchased at auction last week by Titan Capital Investment Group for $7 million. 10 W. Second St.: A 27-story building known as the MeadWestvaco Tower. Tenants include law firms Deloitte & Touche, LLP, Thompson Hine LLP and CareSource. Owned by CS LLC. Connecticut-based Prefco XVI LP holds the $16 million mortgage note on the property. The firm filed foreclosure on CS at the end of May.
June 12, 200718 yr We're just givin' away space! And yet...CareSource... "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
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