International Paper Completes Sale of Brazilian Coated Papers Business
Sept. 1, 2006 - International Paper has completed the previously announced sale of its Brazilian coated papers business to Stora Enso Oyj for approximately $420 million, subject to certain post-closing adjustments.
The business includes a coated paper mill and lumber mill in Arapoti, Parana State, Brazil, as well as 50,000 hectares (approximately 124,000 acres) of forestland in Parana (These assets were formerly owned by Inpacel — Industria de Papel Arapoti Ltda. and Inpacel Agroflorestal Ltda., subsidiaries of International Paper.).
The Brazilian coated papers business had sales of approximately $230 million in 2005. It produces approximately 200,000 metric tonnes of coated paper for catalog, magazine and retail insert markets, and approximately 83 million board feet of lumber each year. Included among the 50,000 hectares of forestlands are 25,000 hectares of pine plantation and 5,000 hectares of eucalyptus plantation. The business employs 711 people.
SOURCE: International Paper
See related story:
- International Paper to Sell Brazilian Coated Papers Business (08/22)