Apr 27, 2011. /Lesprom Network/. MeadWestvaco Corporation (MWV) reported record 1Q earnings from continuing operations of $71 million. The company increased revenue by 8% with gains in packaging markets for food, home and garden and tobacco, as well as poultry and produce markets in Brazil, and industrial, infrastructure and energy markets for specialty chemicals, as MWV said in a press release received by Lesprom Networ. Overall earnings increased compared to the prior year driven by strong profit growth from its packaging, specialty chemicals and land management businesses. Total pre-tax earnings from the company’s segments increased 81% to $195 million in the 1Q 2011 from $108 million in the 1Q 2010. "We continue to demonstrate the benefits of our transformed business through revenue and earnings growth across the company," said John A. Luke, Jr., Chairman and CEO of MWV. "We generated record 1Q results by building our business in targeted markets, expanding market share for our most valuable products, and aggressively driving value-based pricing in the face of inflationary pressures. The step-change in our performance stems from the work we have done over the past several years to reshape our market participation and our cost structure, and it has MWV off to a very good start in what we expect will be another year of progress for our company." In the Packaging Resources segment, profit increased to $84 million in the 1Q 2011 compared to $30 million in the 1Q 2010. Sales increased to $679 million in the 1Q 2011 compared to $624 million in the 1Q 2010. The segment’s sales increase was due to improved paperboard pricing and product mix and favorable foreign currency exchange. Pricing for solid bleached sulfate (SBS) paperboard improved across all end markets, including gains in higher value food, liquid packaging and commercial print markets. Coated unbleached kraft (CNK®) paperboard pricing also improved due to gains in higher value food and beverage packaging markets. Rigesa had pricing and product mix improvement from sales of higher value corrugated packaging solutions as well as from sales increases in consumer packaging solutions for beauty and personal care products. MeadWestvaco Corporation provides packaging solutions to many of the world’s most-admired brands in the healthcare, beauty and personal care, food, beverage, home and garden, and tobacco industries.