São Teófilo was a company whose main asset was an indirect ownership of voting shares of Aracruz Celulose S.A., a producer of pulp based in Brazil. Aracruz was the world’s leading producer of bleached eucalyptus pulp, a key raw material for the production of quality tissue and other specialty papers. Aracruz, which accounted for almost a third of the world’s eucalyptus pulp output, exported substantially all of its production to Europe, North America and Asia.
