IP Completes Purchase of Russian Pulp and Paper Mill

International Paper has completed its purchase of a majority interest in OAO Svetogorsk, a Russia-based pulp and paper business. The mill makes uncoated free sheet, liquid packaging board, and softwood market pulp in the Russian town of Svetogorsk, located on the border with Finland, some 85 miles north of St. Petersburg.

OAO Sevtogorsk will soon complete a new sheeting facility, which will substantially increase its cutsize capacity. A paper machine improvement project was completed last October.

"This investment supports International Paper's efforts to serve the growing markets of Europe. Svetogorsk's product lines complement ours, and the mill has excellent cost potential," noted Robert Amen, president of International Paper-Europe.

International Paper's European Papers business, with manufacturing operations in France, Germany, Poland, the UK, and now Russia, is a leading producer of office, coated, and specialty papers. International Paper is a global producer of printing papers, packaging, and forest products with more than 80,000 employees worldwide. Headquartered in the U.S. at Purchase, NY, the company makes products in more than 30 countries and has sales in more than 130 nations.