Oct
30

MWV Land Sale Won’t Affect Local Development

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MeadWestvaco Corp.’s sale of all of its U.S. forestlands to Plum Creek Timber Co. Inc. will not impact its real estate development projects, including Nexton in Summerville.

“Other than the fact that it provides more capital that can be invested in those projects, it won’t impact them at all,” said Kenneth T. Seeger, president of MWV’s Community Development and Land Management. “We’re continuing forward with the same management team, the same business plan and the same partnerships.”

The company’s main focus will be on its remaining 109,000 acres of development property in the Charleston region and its Cabin Bluff development in Georgia. In the Lowcountry, MWV will concentrate on its Nexton and East Edisto developments, 10 industrial parks in Charleston and along I-95 and various joint ventures.

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