Through strategic alliances and a shared vision for economic growth, AltaRock (representing Altatrade and Rockland Group) and Invest Paraná have signed a memorandum of investment intent, set to emerge as a beacon of success and lead the charge in fostering mutual prosperity between Paraná, Brazil, and the GCC regions.

Dubai – April 23rd, 2024 – Pierre Akl, representing Altatrade, member of INDEVCO Group, the leading expert in global trading and sourcing of raw materials, and Tarek Itani, representing Rockland Group, a renowned trading company specialized in global trading, have signed a memorandum of investment intent with Invest Paraná, the investment promotion agency of the State of Paraná, Brazil. This strategic collaboration was celebrated in a ceremony held on Wednesday 17th, in Dubai, United Arab Emirates, and was graced by the presence of Governor His Excellency Carlos Massa Ratinho Junior, representing Invest Paraná. This collaboration ceremony brought together key industry leaders and stakeholders from Brazil, Lebanon, and the GCC region.

In a celebration of collaboration, innovation, and progress, AltaRock discussed strategies to strengthen commercial operations with Paraná, focusing particularly on the paper and cellulose segment, an area in which Paraná is one of the highlights in Brazilian production. In addition, AltaRock expressed interest in exploring additional sectors beyond cellulose and paper, such as animal proteins, commodities, and other offerings available in Paraná.

Top executives from INDEVCO Group, an international group of manufacturing companies of corrugated, plastic and paper packaging, tissue, as well as household, institutional, and personal care disposables, headquartered in Lebanon and operating in over 65 countries, alongside from Napco National, a leading manufacturer of plastic and paper packaging solutions, recycled resins, corrugated packaging products, consumer products and business to business (B2B) solutions, were present at the collaboration ceremony.

"This meeting is another demonstration of the growing interest of international businesses in the Paraná market, whose GDP grew on average more than countries like India and China in 2023. Globalizing our economy is one of the factors that has contributed to Paraná's growth," said Governor Ratinho Junior.

"Our expertise in pulp and paper gives us the opportunity to expand our business through Invest Paraná. We are a major importer of paper and pulp and as such we bring valuable know-how in shipping, trading, and procurement and are eager to tap into this promising market," said Pierre Akl Vice President of Altatrade.

"We seize this opportunity to reinforce the relationship we already have with the Paraná State through Invest Paraná. Through this ceremony, we are putting all our efforts and resources from over 100 offices worldwide at your disposal to make many deals possible," emphasized Rockland Group CEO Tarek Itani. "We are prepared to increase our imports and investments in Paraná, aspiring to become a success story in the state."

About Invest Paraná

Invest Paraná is the investment promotion agency of the State of Paraná, Brazil, dedicated to promoting business opportunities, attracting investments, and fostering economic growth in the region. Invest Paraná serves as a strategic partner for businesses seeking to expand and innovate in Paraná.

About Altatrade

Leveraging over 65 years of experience, Altatrade, a commodity trading company, member of INDEVCO Supply Chain, a division of the multinational INDEVCO Group, specializes in sourcing raw materials through qualified suppliers to cater to various industries specifically in the pulp, paper and consumer products with a market reach across the Middle East, the GCC, Europe, Africa and the US. Over the years, Altatrade has established itself as trusted leader and strategic global partner in the sourcing of commodities worldwide. Our success is built on a foundation of integrity, reliability, and innovation accompanied by a strong commitment to promoting fair trade, environmental stewardship, and social responsibility throughout our supply chain.

About Rockland Group

With a reputation built on collaboration, innovation, and progress, Rockland Group is committed to driving sustainable growth in the global trading landscape. With more than 45 years of experience, Rockland Group has proudly built a superior reputation in the Trading industry, delivered Hundreds of projects in different regions around the world, participated in lighting-up cities and supplying refined products, managed prestigious properties, entertained customers through the most innovative technologies, helped creating a sustainable environment, provided an expansion of services and much more.