LOGO



DAILY NEWS Apr 3, 2007 2:01 PM - 0 comments

IP and llim Pulp seek antimonopoly approval

TEXT SIZE bigger text smaller text
St. Petersburg, Russia2007-04-03
International Paper and llim Holding have applied to the Russian Federal Antimonopoly Service for approval of acquisition rights.

Obtaining FAS approval will allow the two companies to make decisions together concerning the enterprises owned by llim Holding SA in Russia.

llim Holding operates the three largest Russian pulp and paper mills in European Russia and Siberia, and owns a majority share in St. Petersburg KPK in the Leningrad region. llim is in the process of consolidating ownership of the mills into a Russian open joint-stock company, llim Group, a subsidiary of llim Holding. llim Group will be managed jointly by a board of directors made up of representatives from both llim Pulp and International Paper. Headquarters will be stationed in St. Petersburg.

The joint venture will focus primarily on increasing output of value-added products such as office papers and packaging, as well as market pulp. llim Pulp’s existing wood products business will operate independently of the joint venture, as will International Paper’s OAO Svetogorsk business.

The two companies are currently putting the finishing touches on a long-term joint investment program of roughly $1.2 billion worth of capital investments.

Companies in This Story

Emterra Environmental



Horizontal ruler
Horizontal Ruler

Post A Comment

Disclaimer
Note: By submitting your comments you acknowledge that Pulp and Paper Canada has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Your Name (this will appear with your post) *

Email Address (will not be published) *

Comments *



* mandatory fields