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International Paper finalises Brazilian joint venture

15-Jan-2013

International Paper has finalised a joint venture in a Brazilian corrugated packaging producer with an investment of $470m.

The deal with Jari Celulose, Embalagens ePapel S.A., a Grupo Orsa company, will see the formation of Orsa International Paper Embalagens S.A.

International Paper will hold a 75% stake in the three containerboard mills and four box plants, which make up Jari’s former industrial packaging assets.

"International Paper has been in Brazil for over 50 years and we are excited about this partnership as a platform to enter the corrugated packaging business in this strategic region," said John Faraci, chairman and chief executive officer.