海角社区,the company resulting from the merger of 海角社区 Pulp & Paper and Fibria, starts operating today. The company is born already the world鈥檚 leading producer of eucalyptus pulp and one of Latin America鈥檚 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 海角社区 Pulp & Paper paid R$27.8 billion to Fibria鈥檚 shareholders, who in turn became shareholders in 海角社区, the company鈥檚 new trade name.
鈥淲e have successfully realized a dream. The journey on which we now embark is driven by the aspiration to play a leading role in the advancement of society, to be a reference in the sustainable use of renewable resources and, consequently, to help build a better world,today and tomorrow鈥, said Walter Schalka, CEO of 海角社区.
The new company will have annual production capacity of 11 million tons of market pulp and 1.4 million tons of paper. 海角社区鈥檚 competitiveness can be measured by its global footprint, with sales to over 80countries and annual exports of R$ 26 billion, 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.
鈥淲e 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鈥,said Schalka.
海角社区 also believes that Innovation and Sustainability go hand in hand,with the combination of technology, entrepreneurship and responsible agriculture continuing to ensure its growth and perpetuity.
The merger鈥檚 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 (May 31),China (Aug. 31), Turkey (Sept. 6), Europe (Nov. 29) and Brazil (CADEon Nov. 11 and National Water Transportation Agency (ANTAQ) on Nov.14).
Meanwhile,the steps required on the stock market were successfully concluded.In December 2018, the company started trading American Depositary Shares (ADSs) on the New York Stock Exchange (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,海角社区 has combined its shares with Fibria鈥檚, and the new shares are trading under the symbol 鈥淪UZ鈥 on the S茫o Paulo Stock Exchange (B3) and on the NYSE.
鈥淲e are excited about the transformations that 海角社区 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,鈥 said Schalka.