SAO PAULO , Feb. 1, 2013 (RISI) -
Brazilian packaging paper and corrugated board producer Celulose Irani has closed an "Asset Leasing and other Issues" contract as well as an "Operational Restructure and New Management Model Implementation" contract with Indústria de Papel e Papelão São Roberto, which has plants in São Paulo and Minas Gerais states. On Jan. 29, São Roberto was acquired by Irani's indirect controller CCI - Companhia Comercial de Imóveis, which belongs to the same family that owns Irani.
The 10-year leasing agreement involves only the São Roberto's paper plant located in Santa Luzia, Minas Gerais state, and will last from Mar. 1, 2013 to Feb. 28, 2023. Irani will use the plant to develop activities related to the pulp, packaging paper and corrugated board sectors.
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