Thursday, October 26, 2006

International Paper Storms Russia

Yesterday, International Paper (NYSE: IP) announced the creation of a joint venture with Ilim Paper, the largest forest products company in Russia. IP will invest $1.2billion in the country, and the investment is focused on four pulp mills. The Russian Boreal is one of the most threatened forest regions in the world. Ilim Paper has been going through the process of getting FSC certified but it is unclear how this will continue based on IP's support of the North American greenwash certification system - the Sustainable Forestry Initiative.

To Read More Details on the Merger, click here.

No comments: