International Paper announced its intention to explore strategic options, including the possible sale, of its 50% ownership interest in Ilim Group, Russia. International Paper has no intention to seek suspension of operations or initiate any liquidation or bankruptcy proceedings with respect to Ilim Group, company said in a statement. International Paper first went into business in Russia in 1995, opening a small office in Moscow to explore opportunities. Three years later, it bought a paper mill in Svetogorsk (Leningrad region), near the border with Finland, which was 125 years old. The plant ...
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