Aug 12, 2011. /Lesprom Network/. Fibria has signed a term sheet with Oji Paper Co. Ltd. granting exclusivity to Oji to negotiate with Fibria about the possible sale of the assets represented by the industrial fixtures and real estate properties that form the plant known as Piracicaba Unit located in the city of Piracicaba, State of Sao Paulo, Brazil for an indicative price of $313 million, subject to the satisfactory conclusion of the due diligence by OJI, the occurrence of certain conditions precedent and the execution of the definitive agreements between the parties. The agreement is valid through September 29, 2011, as PaperAge reported. Fibria expected that the closing of the sale object of the Term Sheet will occur until September 29th, 2011, upon the execution of the definitive agreements and payment of the price in full. Fibria's Piracicaba mill has the capacity to produce 160,000 tons per year of carbonless and uncoated woodfree papers. The mill is also ISO 14001-certified. Fibria operates five mills with a combined annual production capacity of 5.25 million tons of pulp, along with 179,000 tons per year of thermal, carbonless and printing papers.