SÃO PAULO (News release) -- Suzano, the world's largest pulp producer, has completed the acquisition of two industrial assets from Pactiv Evergreen in Arkansas and North Carolina, United States. All conditions for completing the agreement announced in July have been fulfilled.

The acquisition of the mills in Pine Bluff and Waynesville, that manufacture liquid packaging board and cupstock, adds approximately 420,000 metric tonnes annually of integrated paperboard to Suzano's production capacity. The Brazilian company will now become a major supplier of papers used to produce Liquid Packaging Board in North America.

Fabio Almeida, Executive Vice President of Paper and Packaging at Suzano and CEO of Suzano Packaging US, said:

"We aim to scale our operations to meet the growing global demand for paper-based packaging. Our successful track record of asset integration gives us confidence that we will be able to enhance operational efficiency, production scale, and safety standards at these units, opening up new opportunities for the employees and positively impacting the local communities of Pine Bluff and Waynesville."

These newly acquired assets benefit from a high availability and competitive costs of wood and energy in the region, and good access to railways, ports, and highways.

The long-term deal signed by the companies establishes that Suzano will provide liquid packaging board for Pactiv Evergreen's converting mills in North America under a long-term commercial agreement.

The transaction is valued at US$110 million, subject to customary price adjustments, and does not materially impact Suzano's financial leverage or debt levels.

Suzano is currently the largest supplier of hardwood market pulp in North America. In addition to the mills acquired in Arkansas and North Carolina, the company has an office in Fort Lauderdale, Florida, and a research and innovation campus close to Vancouver, Canada.