SAO PAULO--(BUSINESS WIRE)--
Suzano, the company resulting from the merger of Suzano Pulp & Paper and Fibria, starts operating today. The company is already the world’s leading producer of eucalyptus pulp and one of Latin America’s largest paper manufacturers. The merger, which was announced in March 2018, was submitted for approval to all Brazilian and international regulatory agencies. The last phase of the transaction was concluded today, when Suzano Pulp & Paper paid R$ 27.8 billion to Fibria’s shareholders, who in turn became shareholders in Suzano, the company’s new trade name.
“We have successfully realized a dream. The journey on which we now embark is driven by the aspiration to play a leading role in the advancement of society, to be a reference in the sustainable use of renewable resources and, consequently, to help build a better world, today and tomorrow,” said Walter Schalka, CEO of Suzano.
The company will have annual production capacity of 11 million tons of market pulp and 1.4 million tons of paper. Suzano’s competitiveness can be measured by its global footprint, with sales to over 80 countries, as well as by the scale of its operations, with 11 plants in Brazil and approximately 37,000 direct and indirect employees.
In this process to integrate the two companies, it is fundamental that the new company combine the best operating practices with motivated people who transform, create and share value and that it also engage all other stakeholders, including employees, clients and shareholders.
“We will combine technologies with an entrepreneurial spirit to go beyond, which will enable us to make a difference in society by positively impacting local communities and the billions of people around the world who use products made from our pulp every day,” said Schalka.
The merger’s latest step was concluded today, which is the result of a strategic effort made over the course of 2018. The agreement was approved by the antitrust authorities in the United States, China, Turkey, Europe and Brazil.
Meanwhile, the steps required on the stock market were successfully concluded. In December 2018, the company started trading American Depositary Shares (ADSs) on the NYSE. Listing on the NYSE boosts liquidity and improves visibility, while increasing the value of the company abroad. Now, with the conclusion of the merger, Suzano has combined its shares with Fibria’s, and the new shares are trading under the symbol “SUZ” on the São Paulo Stock Exchange (B3) and on the NYSE.
“We are excited about the transformations that Suzano is undergoing and take this opportunity to reinforce our commitment to continue contributing to the development of Brazil and to promoting education, culture, health and the well-being of people,” said Schalka.
Copyright Business Wire 2019