Suzano Pulp & Paper Completes R$27.8 Billion Merger with Fibria
The newly formed company – Suzano – will have an annual production capacity of 11 million tons of market pulp and 1.4 million tons of paper from 11 manufacturing plants in Brazil with sales to over 80 countries.
Jan. 17, 2019 - Suzano Pulp & Paper and Fibria on Jan. 14 completed their merger and began operating as Suzano, the world's leading producer of eucalyptus pulp and one of Latin America's largest paper manufacturers. The deal was concluded when Suzano Pulp & Paper paid R$27.8 billion (approx. US$7.3 billion) to Fibria's shareholders, who in turn became shareholders in Suzano, the company's new trade name. From January to September 2018, the two companies reported operating cash flow of R$10.1 billion and consolidated net revenue of R$24.5 billion. “We have successfully realized a dream,” said Walter Schalka, CEO of Suzano. “The journey on which we now embark is driven by the aspiration to play a leading role in the advancement of society, to be a reference in the sustainable use of renewable resources and, consequently, to help build a better world, today and tomorrow.” The newly formed company will have an annual production capacity of 11 million tons of market pulp and 1.4 million tons of paper from 11 manufacturing plants in Brazil with sales to over 80 countries. “We are excited about the transformations that Suzano is undergoing and take this opportunity to reinforce our commitment to continue contributing to the development of Brazil and to promoting education, culture, health and the well-being of people,” Schalka said. The merger, which was announced on March 16, 2018, was approved by the antitrust authorities in the United States, China, Turkey, Europe and Brazil. SOURCE: Suzano |