Packaging solution provider MeadWestvaco Corporation said yesterday (Oct 14) that due to the impact of higher input cost inflation, lower volumes in the Consumer & Office Products business and weakening demand in some packaging end markets, particularly in the month of September, it is lowering its business outlook for the third quarter ended September 30, 2008.
 
 The US-based company also was impacted by hurricane-related business disruptions at its Evadale, Texas, and DeRidder, Louisiana, facilities.
 
 MWV's combined business segment profits for the third quarter 2008 will be modestly above previous quarter levels, but below third quarter 2007 levels. Cash and cash equivalents at the end of the third quarter were approximately $550 million and the company has no short-term debt or significant maturities due until 2012. The company's cash position benefited from proceeds generated by the sale of the Kraft division and from cash generated by operating activities in the third quarter.
 
 "Like many others companies, MWV must now address a particularly challenging and uncertain environment," said John A. Luke, Jr., chairman and chief executive officer.
 
 The company will announce and review its third quarter results on October 29.