ITOCHU Invested in One of the World’s Leading Pulp Producers
In May 2012, ITOCHU acquired 24.9% of the shares outstanding in Finland’s METSA FIBRE, one of the world’s largest softwood pulp producers, for approximately €480 million. Paper materials divide broadly into two categories: hardwood pulp and softwood pulp. ITOCHU already markets hardwood pulp throughout the world through its investment in Brazil’s CENIBRA, which maintains an excellent network of production sites. Through the investment in METSA FIBRE, we intend to boost our transaction volumes for softwood pulp, securing a position as a leading pulp trader providing top-end quality, as well as volume. METSA FIBRE’s pulp production processes generate electricity, providing the surplus not required by its plants to the surrounding region. This production accounts for approximately 20% of the bio-energy generated in Finland, making this a contributor to the local environmental preservation. We look forward to further reinforcing our business through joint initiatives with this excellent partner.