Aracruz cellulose mill in Brazil.
VCP Buys Stake in Aracruz
Brazilian pulp and paper producer Votorantim Celulose e Papel (VCP), part of the Votorantim conglomerate, may have taken the first step toward a merger with Aracruz Celulose. The company is paying $370 million in cash for a stake in Latin America's largest pulp exporter. The deal was made in support of VCP's growth strategy. It already owns two wood pulp plants and three paper plants in Brazil and currently has the capacity for producing 800,000 metric tons of pulp a year. The addition of Aracruz, which currently produces 1.3 million metric tons a
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