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Management Side
Suzano Agrees to a $259 Million Land Deal
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Sao Paulo, Brazil, South America 26 October 2016 -- (From news reports) -- Suzano Papel & Celulose SA, Brazil's second biggest pulp producer, has agreed to pay $259 million for land and a small hydropower dam as part of an effort to secure supply of cellulose at lower costs for a key mill in the country.

Suzano said on Wednesday it would pay about $245 million for about 75,000 hectares (185,329 acres) of land between the Brazilian states of Maranhão and Tocantins, of which about 60 percent are arable. The cost of the mini dam was $14 million.

The deal highlights growing demand for arable land across Brazil's northern and northeastern regions as speculation mounts that lawmakers plan to ease existing restrictions on sales of land to foreign investors in coming months.

For pulpmakers, buying land in Brazil has become strategic - the country's soil productivity is bigger than in regions such as Scandinavia or Chile.

Under the deal, which requires regulatory approval, Suzano said it bought the land and the dam from steelmaking mills Cia Siderúrgica Vale do Pindaré SA and Cosima Siderúrgica de Maranhão Ltda.

 

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