Eldorado Brasil names Miguel Jorge to its Board of Directors, citing extensive background in business and as former Minister of Development, Industry and Foreign Trade

Diane Keaton

SAO PAULO, BRAZIL , January 16, 2013 (press release) – Industry Intelligence Editor's Note: This press release has been translated from the Portuguese.

Eldorado Brasil takes another step to consolidate its model of corporate governance, in line with best market practices, and announces the arrival of Miguel Jorge to its Board of Directors.

The businessman, who was Minister of Development, Industry and Foreign Trade, between 2007 and 2010, and has extensive experience in companies such as Volkswagen of Brazil and Banco Santander, becomes a member of the independent Board of Directors of Eldorado Brasil.

"We are delighted with the arrival of Miguel Jorge to our Board. Since the founding of Eldorado Brasil we have worked with transparency and best practices in corporate governance. An experienced entrepreneur, as the former minister, will certainly bring an important contribution to building a leading global pulp market," said Jose Carlos Grubisich, president of Eldorado Brasil.

Eldorado Brasil is a publicly traded company, regulated by the Securities Commission (CVM), which began operating the largest and most modern pulp single line mill in the world, in Tres Lagoas (MS), in December 2012. With a production capacity of 1.5 million tonnes of pulp per year, the company expects between expansion plans, a second line for 2017 and a third phase for 2020. Together, the three lines will allow Eldorado Brasil to produce about 5 million tonnes of pulp per year by 2021.

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