MWV Timberland Strategy

MeadWestvaco announced Q1 earnings and layed out its strategy for managing/selling its timberlands today. Here is the short version.

• Complete sale of 300,000 acres this year.
• Actively manage remaining 800,000 acres for long-term value (25 year timeframe). 600,000 acres of that is classified as "high-value" land. 200,000 acres will be traditionally managed forestland.
• A 72,000 acre block, designated as East Edisto, will be developed using joint ventures with tight control by MWV. This project is in an ecologically sensitive area, known as the ACE Basin, and MWV's plan is to actually have a plan with a great deal of public input. Read what the Charleston Post and Courier has to say about the project and the public input.
• A new reporting segment, the Land Management Group, will be in place to implement this strategy by the second half of this year.

Look at the PowerPoint presentation MWV gave at the analyst's meeting.