SUZANO
Suzano, the world's largest pulp producer, has announced the acquisition of industrial assets from Pactiv Evergreen in the United States. This will expand the company’s operations in North America and marks its entrance into the consumer and food service packaging segments in the region. The transaction is valued at US$110 million and includes two mills in Pine Bluff, Arkansas, and Waynesville, North Carolina, that manufacture liquid packaging board and cupstock.
Subject to final regulatory approval expected later this year, these assets will add approximately 420,000 metric tonnes annually of integrated paperboard to Suzano’s production capacity. Alongside the acquisition, Suzano has signed a long-term supply deal with Pactiv Evergreen to provide liquid packaging board for its converting business.
Suzano is currently the largest supplier of hardwood market pulp in North America, with US offices in Fort Lauderdale, Florida, and a research and innovation campus close to Vancouver, Canada. Already a major producer of materials for food and beverage packaging in Latin America, Suzano will work alongside Pactiv Evergreen’s team, leveraging its operational knowledge and experience in the paperboard business to enhance the structural competitiveness and profitability of the acquired assets, which are already comparatively well-positioned on the cost curve of the North American packaging industry.
Fabio Almeida, Executive Vice President of Paper and Packaging at Suzano, said:
“This acquisition is in line with our strategy. We are entering the North American market as a competitive producer of paperboard, taking on quality assets that are strategically well-located from an operational and logistical perspective, and opening new opportunities for growth.”
“As a business with 100 years of history behind us, we see this deal as an investment into our future and we look forward to building a long-lasting and positive relationship with the teams at Pine Bluff and Waynesville, as well as the local communities around both facilities.”
The acquired assets benefit from high availability of wood in the region, low energy costs, and good access to railways, ports, and highways.
The completion of the transaction is subject to verification of customary conditions, including the approval by a foreign antitrust authority. Once approved, the asset acquisition will occur upon closing, with the price subject to typical economic and operational adjustments for this type of transaction. The agreed-upon value does not materially impact Suzano’s financial leverage or debt levels.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240712901944/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
CA-ANDERSEN-GLOBAL13.7.2024 16:43:35 CEST | Pressemeddelelse
Andersen Global forstærker sin afrikanske platform og tilføjer værdiansættelseskapacitet i Nigeria og Sydafrika
OAKIO12.7.2024 15:48:28 CEST | Press release
Oakio Set to Participate in Batimat Paris 2024 with Innovative WPC Solutions
NORD-ANGLIA-EDUCATION12.7.2024 15:17:28 CEST | Press release
Nord Anglia Education and Boston College to Demonstrate the Power of Metacognition at the European Conference on Education
BLS-INTERNATIONAL12.7.2024 14:33:27 CEST | Press release
BLS International Holding Anonim Şirketi (Turkey) Successfully Completes Acquisition of 100% Stake in iDATA
KKR12.7.2024 14:31:26 CEST | Press release
KKR and Palm Capital to Acquire Prime Last-Mile Logistics Asset in Denmark
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom