Fibria Explores Sell of Piracicaba Mill in Brazil to OJI of Japan
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Fibria Cellulose, Sao Paulo, Brazil, the world's largest pulp producer, this past week said that it may sell its Piracicaba mill in Brazil to OJI Paper Co. of Tokyo, Japan, for $313 million. In a "term sheet" agreement, OJI has been granted exclusive acquisition rights until September 29. Fibria reportedly will use proceeds from the sale to pay off debt.
The Piracicaba mill has a production capacity of 160,000 metric tpy of carbonless and uncoated woodfree papers. Fibria operates five mills with a combined annual production capacity of 5.25 million metric tpy of pulp and 179,000 metric tpy of thermal, carbonless, and printing papers. The company also has a 50% stake in Veracel, a pulp mill joint-venture with Stora Enso of Finland, in Bahia.
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