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Article: International Paper to Strengthen and Expand Focus on Brazilian Uncoated Papers Platform.

Article from:
PR Newswire
Article date:
September 19, 2006
Copyright

Company reaches agreement with VCP for asset trade

MEMPHIS, Tenn., Sept. 19 /PRNewswire-FirstCall/ -- International Paper today announced that it has entered into an agreement with Votorantim Celulose e Papel S.A. (VCP) to exchange IP's pulp mill project being developed in Tres Lagoas, state of Mato Grosso do Sul, Brazil (together with approximately 100,000 hectares of surrounding forestlands ) for VCP's Luiz Antonio pulp and uncoated paper mill and approximately 60,000 hectares of forestlands located in the state of Sao Paulo, Brazil. IP will fund the Tres Lagoas pulp mill project in the amount of US $1.15 billion.

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