Jun 02, 2008. /Lesprom.com/. MeadWestvaco Corp. (MWV) announced plans to sell the MWV Specialty Papers Cedar mill in Potsdam, NY, to Potsdam Specialty Paper Inc. (PSPI). MWV Specialty Papers will continue to own and operate its Willow mill in South Lee, MA. The sale is expected to close in the 3Q. Terms of the agreement were not disclosed. PSPI is part of an investment holding company with offices in NY, Hong Kong, and Toronto, that has the financial resources to continue growing the business, expanding the product portfolio, investing in the people and facilities, and rapidly expanding the global reach of the business to new customers. PSPI will be part of a portfolio of global businesses that focus on niche products and markets in the value added paper and coatings distribution business. The mill’s current management team will remain in place following the sale, and all employees will transition to PSPI following the completion of the sale. MeadWestvaco Corporation (MWV), provides packaging solutions to many of the world’s most-admired brands in the healthcare, personal and beauty care, food, beverage, media and entertainment, and home and garden industries.