The new entity, in which IP will hold a 75 percent stake, includes

three containerboard mills and four box plants, which make up Jari's

former industrial packaging assets. The value of IP's investment is approximately 470 million USD."International Paper has been in Brazil for over 50 years and we are excited about this partnership as a platform to enter the corrugated packaging business in this strategic region," said John Faraci, Chairman and Chief Executive Officer. "This investment fits our strategy to grow our packaging business globally and allocate capital to opportunities that deliver returns well above our cost of capital", said John Faraci.