MeadWestvaco and International Paper Show Profit

Both International Paper (North America's largest paper manufacture) and MeadWestvaco(one of the largest coated magazine paper manufacture) reported improved profits for first quarter. International Paper's profit nearly doubled, assisted by a 13% increase in the price of uncoated book, envelope, and copy paper prices. MeadWestvaco sited their improvement as a result of increased pricing for magazine papers. Both mills announced that prices will continue to increase to offset the cost pressures from raw materials such as fiber, power, chemicals, and freight.