MWV Specialty Chemicals Agrees to Acquire Resitec Industria Quimica, Ltda.

  MWV Specialty Chemicals Agrees to Acquire Resitec Industria Quimica, Ltda.

Acquisition Strengthens Commitment to Pine Chemicals Business in Latin America

Business Wire

NORTH CHARLESTON, S.C. -- November 07, 2012

MWV Specialty Chemicals, a division of MeadWestvaco Corporation (NYSE: MWV),
announced a definitive agreement to purchase the remaining outstanding
ownership stake of Resitec Industria Quimica, Ltda., a Brazilian company that
serves the Latin American Pine Chemicals industry. MWV and South Africa-based
AECI Limited (JSE: AFE) have held a 50-50 joint venture partnership interest
in Resitec for the past four years. The decision to move Resitec to one owner
was made jointly. The agreement is contingent on final government approvals.
Terms of the agreement were not disclosed.

“We’ve had a successful four-year joint venture partnership interest in
Resitec, and we are pleased to have them join MWV as we continue to accelerate
our growth in emerging markets,” said Ed Rose, president, MWV Specialty
Chemicals. “The Resitec employees have built a strong business, and we look
forward to their continued support in serving our customers. This transaction
represents MWV’s commitment to pine chemicals, which is core to our business
in Brazil and in Latin America. We will leverage our innovative products and
strong technical expertise with current customers, and in expanded markets,
including oilfield, adhesives and paving solutions to profitably grow in this
important region,” he added.

“Growth in Brazil remains an important component of AECI’s strategy,” said Dr.
Graham Edwards, CEO of AECI. “The company has reviewed and refined the details
of this strategy in terms of its preferred target markets and business model.
Whilst involvement in Resitec has been invaluable for acquiring local
knowledge and experience as a platform for future expansion, AECI concluded
that Resitec is not ideally aligned with its core strategy.”

With approximately 115 employees, Resitec’s operations include a manufacturing
facility located in the city of Duque de Caxias, Rio de Janeiro, an
administrative office located in Barra da Tijuca, Rio de Janeiro and a tall
oil refinery in the city of Palmeira, Santa Catarina, Brazil. Resitec
currently provides chemical products for the rubber, lubricants, food and
adhesives markets, and will expand its offerings to include asphalt and
oilfield markets following the acquisition.

MWV has operated in Brazil for nearly 60 years. MWV Rigesa is a leader in the
Brazilian corrugated packaging market, serving customers in the fresh produce,
frozen meat, consumer and industrial goods markets. MWV also provides
packaging solutions for the healthcare, personal care, and beverage markets in
Brazil. The company has 3,000 employees in the region and operates one paper
mill, five corrugated packaging plants, one paperboard packaging plant, and 54
thousand hectares of forest plantations, with sales offices and commercial
representatives strategically located nationwide.

About MWV

MeadWestvaco Corporation (NYSE: MWV) is a global packaging company providing
innovative solutions to the world’s most admired brands in the healthcare,
beauty and personal care, food, beverage, home and garden, tobacco, and
agricultural industries. The company also produces specialty chemicals for the
automotive, energy, and infrastructure industries and maximizes the value of
its land holdings through forestry operations, property development and land
sales. MWV’s network of 125 facilities and 16,000 employees spans North
America, South America, Europe and Asia. The company has been recognized for
financial performance and environmental stewardship with a place on the Dow
Jones Sustainability World Index every year since 2005. Learn more at

About Resitec

Resitec Industrial Quimica, Ltda. is the largest producer of
oleochemicals-based products in Brazil, specializing in rubber emulsifiers,
adhesive resins and lubricants. It employs approximately 115 people in its
manufacturing locations in Duque de Caxias, Rio de Janeiro and in Palmeira,
Santa Catarina. More information about Resitec and its product offerings can
be found at

About AECI

AECI is an explosives and specialty chemicals company domiciled in South
Africa. Group businesses service the mining and manufacturing sectors both
locally and internationally. The focus for growth is on Africa, South America
and South East Asia. AECI’s businesses are characterised by application
know-how and service delivery. They often operate in niche markets and are
supported by leading technology which is developed in-house or is sourced from
international partners. In the last five years the Group has invested R2
billion in a strategic capital investment programme to enhance its future
growth in the mining and manufacturing areas, with particular emphasis on
mining chemicals and initiating systems.

Forward-looking Statements

Certain statements in this document and elsewhere by management of the company
that are neither reported financial results nor other historical information
are "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such information includes, without limitation,
the business outlook, assessment of market conditions, anticipated financial
and operating results, strategies, future plans, contingencies and
contemplated transactions of the company. Such forward-looking statements are
not guarantees of future performance and are subject to known and unknown
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implied by the forward-looking statements. In addition to any such risks,
uncertainties and other factors discussed elsewhere herein, risks,
uncertainties, and other factors that could cause or contribute to actual
results differing materially from those expressed or implied for the
forward-looking statements include, but are not limited to, events or
circumstances which affect the ability of MeadWestvaco to realize improvements
in operating earnings from the company's ongoing cost reduction initiatives;
the ability of MeadWestvaco to close announced and pending transactions,
competitive pricing for the company's products; impact from inflation on raw
materials, energy and other costs; fluctuations in demand and changes in
production capacities; relative growth or decline in the United States and
international economies; government policies and regulations, including, but
not limited to those affecting the environment, climate change, tax policies
and the tobacco industry; the company's continued ability to reach agreement
with its unionized employees on collective bargaining agreements; the
company's ability to execute its plans to divest or otherwise realize the
greater value associated with its land holdings; adverse results in current or
future litigation; currency movements; volatility and further deterioration of
the capital markets; and other risk factors discussed in the company's Annual
Report on Form 10-K for the year ended December 31, 2011, and in other filings
made from time to time with the SEC. MeadWestvaco undertakes no obligation to
publicly update any forward-looking statement, whether as a result of new
information, future events or otherwise. Investors are advised, however, to
consult any further disclosures made on related subjects in the company's
reports filed with the SEC.


MeadWestvaco Corporation
Stephanie Mangini, +1 843-740-2166
AECI Limited
Fulvia Putero, +27-011-806-8797
Investor Relations
Jason Thompson, +1 804-444-2556
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