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International Paper today announced that the name of its group company Andhra Pradesh Paper Mills Ltd has been changed to International Paper APPM Ltd with effect from December 16, 2013.
The company currently operates through two paper manufacturing mills at Rajahmundry and Kadiam in Andhra Pradesh under APPM’s name.
W Michael Amick Jr, President, IP India and Executive Chairman, International Paper APPM Ltd, in a statement said, “The new name recognises the parentage of International Paper while maintaining the link to the history of the APPM brand. Apart from integrating APPM into International Paper group, it also retains APPM which has become so widely recognised and accepted over the years in paper industry.”
“This will also ensure that we direct future investments in brand building around the International Paper brand, leveraging our global presence,” he said.
The Andhra Pradesh Paper Mills Ltd became a Group Company of International Paper in October 2011 following acquisition of 75 per cent shares from the erstwhile promoters and public.
International Paper APPM Ltd produces writing, printing and copier papers at its two manufacturing units in Andhra Pradesh with a total paper production capacity of 240,000 tonnes per year.
The US based International Paper (NYSE: IP) employs 70,000 people and closed with net sales of $28 billion in 2012.
>rishikumar.vundi@thehindu.co.in
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