Helsinki-based Ahlstrom Corp., has completed the formation of its joint venture with Brazil's Votorantim Celulose e Papel (VCP). The joint venture, originally announced in February 2007, focuses on specialty papers production in Jacarei, Brazil, near S‹o Paolo. Ahlstrom will hold 60% and VCP 40% of the shares in the joint venture to be called Ahlstrom VCP de Papeis Especiais SA. Ahlstrom's shareholding cost about EUR 80 million.

The joint venture's capacity is about 110 000 tonnes/year and net sales about EUR 100 million. The joint venture will serve mainly labeling applications and certain flexible packaging markets. It will continue to produce coated and uncoated paper grades for other end uses. VCP will supply utilities and other services as well as eucalyptus pulp from an integrated 1.1-million- tonne pulp mill at competitive prices. Ahlstrom has an option to purchase VCP's share in the joint venture after two years.

www.ahlstrom.com. PI

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