Oji Paper Considering Purchase of Piracicaba Mill From Fibria

Sao Paulo, Brazil, 12 Aug 2011 -- Oji Paper is in talks with Fibria Celulose on the possible acquisition of Fibria's Piracicaba specialty paper mill. Fibria reports it has granted Oji Paper exclusive acquisition rights until 29 September 2011. The sale is pending a due dilligence analysis of the unit by Oji Paper, among other items. The value of the transaction is put at USD 313 million.

Piracicaba paper mill runs one paper machine with an installed capacity of 160,000 tons/year of woodfree paper and is specializes in thermal and carbonless copy paper.