BUSINESS MEMO: WESTVACO EARNINGS

Westvaco Corp., a major manufacturer of paper, packaging and chemicals, has reported its sales and earnings for the second quarter and first half of fiscal 1998.

Westvaco, which includes a paper processing facility at Wickliffe, Ky., reported sales at $724 million for the second quarter, not far off the pace of sales during the same period a year ago. Six months sales for the period ended April 30 were $1.4 billion, down 2.4 percent from the same period a year ago.

Second-quarter earnings were $34.6 million, or 34 cents per share, 8.8 percent down from the $37.9 million or 37 cents a share a year ago. Earnings for the first six months were $67.1 million, or 66 cents a share, down from the $73.5 million or 72 cents per share during the first half of 1997.

Earnings were reduced by a strike at the Envelop Division's eight sites, which lasted 30 days.

Westvaco purchases timber from a number of Southern Illinois and Southeast Missouri timber growers.