Jun 06, 2007. /Lesprom Network/. International Paper and Ilim Pulp announced on June 5, 2007 they have received Russian Federal Antimonopoly Service (FAS) approval, permitting International Paper to acquire an ownership interest in Ilim Holding SA. The approval is an important step in the process of working toward an agreement to develop a 50:50 joint venture. Negotiations and due diligence are still ongoing and should conclude in the second half of the year. International Paper, founded in 1898, is a global uncoated paper and packaging company with primary markets and manufacturing operations in North America, Europe, Russia, Latin America, Asia and North Africa. Its uncoated papers and packaging businesses are complemented by xpedx, North America's largest distributor of printing papers and graphics supplies and equipment. Headquartered in the United States, International Paper employs approximately 54 000 people in more than 20 countries, and serves customers worldwide. Annual sales are about $22 billion. International Paper partners with customers and environmental, academic, civic and governmental organizations, as well as landowners and harvesting professionals, to encourage responsible forest stewardship, improve the health and productivity of forestlands and increase recovery of our recyclable products. The company has a long-standing policy of using no wood from endangered forests.