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May 11, 2001 		Feedback  
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BILT affiliate buys Sinar Mas India

BILT Paper Holdings, an affiliate of Ballarpur Industries, said on Friday it had bought Sinar Mas Pulp and Paper India Ltd for $114.5 million.

"The acquisition holds enormous significance for the BILT Paper Group as it has huge synergies with our existing businesses and plans," Gautam Thapar, vice-chairman and managing director of the group, said.

Sinar Mas Pulp and Paper India is an indirect subsidiary of Asia Pulp and Paper Co Ltd and one of Asia's largest paper companies. Sinar Mas has a plant in Bhigwan near Pune with a capacity of 115,000 tonnes.

BILT Paper Holdings is a privately held company holding investments and assets in the paper business for the BILT Group. "The deal was valued at $114.5 million," the company said in a statement.

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