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. （ITOCHU’s stake is now 25.0%.）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. METSA FIBRE’s mills produce around 20 per cent of all renewable energy in Finland, helping protect the environment. We look forward to further strengthening our business through joint initiatives with this excellent partner.