Jul 20, 2005. /Lesprom Network/. International Paper (USA) announced the conversion of assets. The company will produce uncoated paper, as well as industrial and other package. The company will close up the rest production enterprises, including timber mills, the North-West Timber Sector Confederation announced. IP ownes 99.9% of Svetogorsky pulp and paper enterprise in Russia located in Leningrad region. The enterprise is the largest supplier of paper to the expanding Russian market. The company has invested significant funds in in the enterprise so far. As reported earlier the investment program was aimed at boosting the production capacities of Svetogorsk and is a part of IP project aimed at sales boost in North America and in Russia. ‘Russia is an essential market for our company’ IP president Thomas Cadien said. ‘Svetogorsky has become the leading office paper supplier to Russia, this market is increasing by 15-20% annually. We’re sure that the fulfillment of the investment program on Svetogorsky will strengthen the positions of IP in Russia and Europe.’ According to the North-West Timber Sector Confederation, the conversion may result in the boost ofpaper and cardboard production by Svetogorsky. Meanwhile Svetogorsky owns a number of timber mills that the company is no longer considering a profile business.