This report analyzes the worldwide markets for Corrugated & Paperboard Boxes in Millions of US$. The major product segments analyzed are Corrugated & Solid Fiber Box, Folding Paperboard Box, and Set-Up Paperboard Box.The End-use segments discussed include Non-Durables (Food & Beverages, Paper and Publishing Products, & Chemicals & Allied Products, and Others) and Durables. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Annual forecasts are provided for each region for the period of 2000 through 2015. The report profiles 315 companies including many key and niche players worldwide such as Amcor Ltd., Carter Holt Harvey Limited, InPeake Packaging, Inc, International Paper, Kappa Packaging, Mondi Packaging Europe, Rengo Co., Svenska Cellulosa Aktiebolaget, SCA Packaging, Smurfit-Stone Container Corporation, Visy, and Weyerhaeuser. Market data and analytics are derived from primary and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.

CORRUGATED AND PAPERBOARD BOXES							MCP-1105
A GLOBAL STRATEGIC BUSINESS REPORT


                                            CONTENTS


  I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
      Study Reliability and Reporting Limitations                       I-1
      Disclaimers                                                       I-2
      Data Interpretation & Reporting Level                             I-2
       Quantitative Techniques & Analytics                              I-3
      Product Definition and Scope of Study                             I-3
       By Product Segment                                               I-3
        Corrugated & Solid Fiber Box                                    I-3
        Folding Paperboard Box                                          I-4
        Set-Up Paperboard Box                                           I-4
       By End-Use Market                                                I-4

 II. EXECUTIVE SUMMARY

  1. Market Snapshots                                                   II-1

  2. Industry Overview                                                  II-2
      Current & Future Analysis                                         II-2
       Analysis by Region                                               II-2
       Corrugated & Solid Fiber Boxes - The Largest and Fastest
        Growing Product Segment                                         II-2
       Food & Beverages take the Honors Among End-use Segments          II-2
      Industry Structure                                                II-2
       Folding Carton and Corrugated Container Industries Overview      II-3
      Market Trends                                                     II-3
       Increasing Role of CPB in Point-of-Purchase Display              II-3
       Plastic- A Competitor to Paperboard Box?                         II-3
       Shift Towards Value Addition to Existing Products                II-4
       Growth Drivers                                                   II-4
       Cost Drivers                                                     II-4
       Smaller Flute Profiles- Increasing Popularity                    II-4
       Regional Growth Trends                                           II-4
       Consolidation Continues                                          II-5
       Corrugated Boxes - Moderate Growth Projected in terms of
        Volume .                                                        II-5
       Thin-Plate Technology for the Corrugated Market                  II-5
      Review of the Packaging Industry                                  II-6
       Innovatively Cutting Back Self-Filling Costs                     II-6
       Complementary Virtues of Single-Trip Packaging                   II-7

  3. Product Overview                                                   II-8
      Corrugated & Solid Fiber Box                                      II-8
      Folding Paperboard Box                                            II-8
      Set-Up Paperboard Box                                             II-8
      Advantages of Corrugated and Paperboard Boxes                     II-8
      Corrugated Intermediate Bulk Containers                           II-9
      Wax-Coated Corrugated Boxes                                       II-9
      Benefits of Corrugated and Paperboard Boxes                       II-9
       Protects Goods While Transport and Storage                       II-9
       Efficient and Space-saving Storage                               II-10
       Economical Transport                                             II-10
      Corrugated Box Specifications                                     II-10
       Table 1: Corrugated Box Specifications of Single Wall
        Corrugated Boxes                                                II-10
      Strength Requirements                                             II-10

  4. History of Box Making                                              II-11
      Corrugated Paper Development                                      II-11
      Decades of Change in the Corrugated Box Industry                  II-11
      History of Corrugated                                             II-11
      A Tour Through the World of Corrugated and Paperboard Industry    II-12

  5. Raw Materials Overview                                             II-13
      1. Paper and Paperboard                                           II-13
        Categorization of Boxes by Parameters- Weight, Performance
         and Color                                                      II-13
        Most Common Types of Paperboard                                 II-14
        Specific Product Descriptions                                   II-14
         Corrugated Board                                               II-14
         Flutes and Liners                                              II-15
        Polypropylene Hollow Corrugated Board- A Potential Threat to
         Corrugated Board                                               II-15
        Importance of Paperboard Quality in Packaging                   II-15
      2. Adhesives                                                      II-16
      3. Waxes                                                          II-16

  6. End-Use Markets                                                    II-17
      End-Use Markets - Overview                                        II-17
      Packaging Trends in European Fruit and Vegetables                 II-17
      Threat of Returnables                                             II-17
      Cosmetics and Toiletries Packaging                                II-17

  7. Production Overview                                                II-18
      Table 2: Global Corrugated Production/Shipments (2005-2006) in
      Million sq.m by Region (Asia, Europe, North America, Central
      America, Oceania and Africa) (includes corresponding
      Graph/Chart)                                                      II-18
      Production Steps                                                  II-18
       Production of Corrugated Board from Paper                        II-18
      Various Parts of a Corrugator Machine                             II-19
       Conversion Process                                               II-19
      Types of Corrugated Packaging Plants                              II-19
      Corrugated Board Coating                                          II-20
      Applying Wax to Corrugated Boxes                                  II-20
      Advantages of the three-layer structure                           II-20
      Requirements for Running F and N Flutes                           II-20
      Developments in Production Process                                II-21
      Developments in Prepress activity                                 II-21
      Material Developments                                             II-21
      Unique Structures                                                 II-22
      Printing Plate Requirements                                       II-22
      Preprint Quality in Postprint Applications                        II-23
      Photopolymer Plates for Postprint                                 II-23
      Printing Procedures                                               II-23
       Flexographic Printing                                            II-23
       Flexographic Vs. Lithographic Printing                           II-23
       Digital Printing                                                 II-24
        Advantages of Digital Printing                                  II-24
      Standardized Printing Systems Being Developed                     II-24

  8. Regulatory Environment                                             II-26
      Understanding Corrugated Common Footprint Standard                II-26

  9. Environmental Issues                                               II-27
      Recycling                                                         II-27
       Recycling of Old Corrugated Containers                           II-27
        Advantages of Recycling OCC                                     II-27
        Mode of Implementing Recycling Program                          II-27
       Guidelines to handle corrugated:                                 II-27
        Common Contaminants                                             II-27
        End-Market Specifications                                       II-28
      Competition from Plastic                                          II-28
      Corrugated Boxes Vs. RTP                                          II-28
      Carton Innovations Keep Converters on Cutting Edge                II-29
      Improved UV-Curable Matte Coating Adds Package Eye-Appeal         II-30
      Lobbying Efforts of FBA                                           II-30

  10. Product Launches/ Developments                                    II-31
      Klabin Rolls Out a New Corrugated Box for Shipping Oranges        II-31
      Klabin to Launch a Novel Corrugated Pallet                        II-31
      Klabin Introduces New Packaging Solution for Small Farmers        II-31
      MeadWestvaco Launches Hyperpack Multiple Substrate Cartons       II-32
      Graphic Packaging and Eco-Pak Launch Eco-Pak Paperboard Clips     II-32
      Stora Enso Launches MultiFlex                                    II-32

  11. Recent Industry Activity                                          II-33
      Meyer Completes Gee Clean Acquisition                             II-33
      SCA Divests North American-based Packaging Business               II-33
      International Paper Divests Kraft Paper Operations                II-33
      NewPage Corp. to Acquire Stora Enso's Paper- Manufacturing
       Operations                                                       II-33
      Boise Cascade to Sell Paper, Packaging & Newsprint Segments       II-33
      Ahlstrom Enters into JV with Votorantim                           II-33
      Koch Industries Acquires Georgia-Pacific                          II-34
      International Paper Sells North American Beverage Packaging
       Operations                                                       II-34
      International Paper to Enter into Joint Venture with Ilim Pulp    II-34
      ACCO Brands Divests its Perma Corrugated Storage Box Operations  II-34
      Merlin Takes Over Four Operations of Mondi                        II-35
      Rigesa Establishes New Packaging Plant                            II-35
      Weyerhaeuser Divests Valley View Business                         II-35
      Weyerhaeuser Acquires Budres Lumber Companies Operations          II-35
      Southern Container Sells Interest in MPG                          II-35
      Boise Cascade Acquires Central Texas Corrugated's Assets          II-35
      Sonoco Alcore Acquires Stake in Demolli Industria Cartaria        II-36
      Stora Enso Takes Over Vinson                                      II-36
      Southern Container Acquires Schiffenhaus Industries               II-36
      Caraustar Industries Takes Over Sonoco Products                   II-36
      Newark Group Acquires Kronig                                      II-36
      Carlyle Group Acquires Stake in Otor SA                           II-36
      Bunzl Plc Takes Over Master Craft Packaging                       II-36
      Smurfit Kappa Announces Merger Completion                         II-37
      International Paper Acquires Majority Stake in CMCP               II-37
      Norampac Acquires Three Plants from SPB Canada                    II-37
      IP Acquires Major Share of CMCP                                   II-37
      Cascades Acquires Fraser Papers                                   II-38
      Brascan Acquires Ownership in Fraser Papers                       II-38
      Norampac Acquires SPB Canada's Plants                             II-38
      HTRG Acquires Prudential Timber Investments                       II-38
      HTRG Acquires Harvard Management Company's Assets                 II-38
      Barry-Wehmiller Buys Division of Central Bottling                 II-38
      Smurfit-Stone in a Joint Venture with Weedon                      II-38
      Interact Proclaims Signature and Interact Services Merger         II-39
      Jefferson Smurfit and Kappa Sign Merger Agreement                 II-39
      Klabin Completes Packaging Unit's Renovation and Expansion        II-39
      Linder Lumber Closes Down Alabama-Based Mill                      II-39
      Norampac Shutdowns Machine in Ontario                             II-39
      International Paper Divests Carter Hold's Stake                   II-39
      Tokan Package Co., Ltd. and Nichiita Package Industries Co.,
       Ltd. Ink Merger Agreement                                        II-39
      SSCC Forms Joint Venture with Hang Yick                           II-40
      Andritz Signs Contract with KPPM                                  II-40
      International Paper Divests Weldwood                              II-40
      Mondi Europe Acquires Tek-Pol                                     II-40
      Mondi Packaging Group Takes Over Bauernfeind Group and
       Frantschach                                                      II-40
      Norampac Acquires AIM                                             II-40
      SCA Pockets Italian Corrugated Company                            II-40
      Norampac Acquires Johnson Corrugated Products Corp                II-40
      SCA Takes Over Heritage                                           II-41
      DS Smith Acquires Linpac                                          II-41
      SCA Takes Over Vincor Group                                       II-41
      PCA Pockets Acorn                                                 II-41
      Georgia-Pacific Acquires Two Plants of Inland Paper               II-41
      International Paper Signs RFID Agreement (USA)                    II-41
      IP Increase Capacity On Linerboard                                II-41
      Orsa Invests R$210 Million in Production                          II-42
      Stora Enso Opens Second Packaging Mill in Russia                  II-42
      Smurfit-Stone Discontinues Operations at 4 Facilities             II-42
      Norampac's Mexico Plant Divestiture                               II-42
      Nippon Unipac Holding Changes Name to Nippon Paper Group, Inc     II-42

  12. Focus on Select Global Players                                    II-43
      Amcor Ltd. (Australia)                                            II-43
      Carter Holt Harvey Limited (Australia & New Zealand)              II-43
      InPeake Packaging, Inc (USA)                                      II-43
      International Paper (USA)                                         II-43
      Kappa Packaging (The Netherlands)                                 II-44
      Mondi Packaging Europe (UK)                                       II-44
      Rengo Co. Ltd (Japan)                                             II-44
      Svenska Cellulosa Aktiebolaget (Sweden)                           II-44
      SCA Packaging (UK)                                                II-45
      Smurfit-Stone Container Corporation (USA)                         II-45
      Visy (Australia)                                                  II-45
      Weyerhaeuser Company (USA)                                        II-46

  13. Global Market Perspective                                         II-47
      Table 3: World Recent Past, Current & Future Analysis for
      Corrugated and Paperboard Boxes by Geographic Region - US,
      Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin
      America, and Rest of World Markets Independently Analyzed with
      Annual Sales Figures in US$ Million for Years 2000 through
      2010 (includes corresponding Graph/Chart)                         II-47

      Table 4: World Long-Term Projections for Corrugated and
      Paperboard Boxes by Geographic Region - US, Canada, Japan,
      Europe, Asia-Pacific (excluding Japan), Latin America, and
      Rest of World Markets Independently Analyzed with Annual Sales
      Figures in US$ Million for Years 2011 through 2015 (includes
      corresponding Graph/Chart)                                        II-48

      Table 5: World 10-Year Perspective for Corrugated and
      Paperboard Boxes by Geographic Region - Percentage Breakdown
      of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific
      (excluding Japan), Latin America, and Rest of World Markets
      for 2003, 2007 & 2012 (includes corresponding Graph/Chart)        II-49
      Market Analysis by Product Segment                                II-50
      Table 6: World Recent Past, Current & Future Analysis for
      Corrugated & Solid Fiber Boxes by Geographic Region - US,
      Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin
      America, and Rest of World Markets Independently Analyzed with
      Annual Sales Figures in US$ Million for Years 2000 through
      2010 (includes corresponding Graph/Chart)                         II-50

      Table 7: World Long-Term Projections for Corrugated & Solid
      Fiber Boxes by Geographic Region - US, Canada, Japan, Europe,
      Asia-Pacific (excluding Japan), Latin America, and Rest of
      World Markets Independently Analyzed with Annual Sales Figures
      in US$ Million for Years 2011 through 2015 (includes
      corresponding Graph/Chart)                                        II-51

      Table 8: World 10-Year Perspective for Corrugated & Solid
      Fiber Boxes by Geographic Region - Percentage Breakdown of
      Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific
      (excluding Japan), Latin America, and Rest of World Markets
      for 2003, 2007 & 2012 (includes corresponding Graph/Chart)        II-52

      Table 9: World Recent Past, Current & Future Analysis for
      Folding Paperboard Boxes by Geographic Region - US, Canada,
      Japan, Europe, Asia-Pacific (excluding Japan), Latin America,
      and Rest of World Markets Independently Analyzed with Annual
      Sales Figures in US$ Million for Years 2000 through 2010
      (includes corresponding Graph/Chart)                              II-53

      Table 10: World Long-Term Projections for Folding Paperboard
      Boxes by Geographic Region - US, Canada, Japan, Europe,
      Asia-Pacific (excluding Japan), Latin America, and Rest of
      World Markets Independently Analyzed with Annual Sales Figures
      in US$ Million for Years 2011 through 2015 (includes
      corresponding Graph/Chart)                                        II-54

      Table 11: World 10-Year Perspective for Folding Paperboard
      Boxes by Geographic Region - Percentage Breakdown of Dollar
      Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding
      Japan), Latin America, and Rest of World Markets for 2003,
      2007 & 2012 (includes corresponding Graph/Chart)                  II-55

      Table 12: World Recent Past, Current & Future Analysis for
      Set-Up Paperboard Boxes by Geographic Region - US, Canada,
      Japan, Europe, Asia-Pacific (excluding Japan), Latin America,
      and Rest of World Markets Independently Analyzed with Annual
      Sales Figures in US$ Million for Years 2000 through 2010
      (includes corresponding Graph/Chart)                              II-56

      Table 13: World Long-Term Projections for Set-Up Paperboard
      Boxes by Geographic Region - US, Canada, Japan, Europe,
      Asia-Pacific (excluding Japan), Latin America, and Rest of
      World Markets Independently Analyzed with Annual Sales Figures
      in US$ Million for Years 2011 through 2015 (includes
      corresponding Graph/Chart)                                        II-57

      Table 14: World 10-Year Perspective for Set-Up Paperboard
      Boxes by Geographic Region - Percentage Breakdown of Dollar
      Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding
      Japan), Latin America, and Rest of World Markets for 2003,
      2007 & 2012 (includes corresponding Graph/Chart)                  II-58
      Market Analysis by End-Use Segment                                II-59
      Table 15: World Recent Past, Current & Future Analysis for
      Demand of Corrugated and Paperboard Boxes for Non-Durable
      Products by Geographic Region - US, Canada, Japan, Europe,
      Asia-Pacific (excluding Japan), Latin America, and Rest of
      World Markets Independently Analyzed with Annual Sales Figures
      in US$ Million for Years 2000 through 2010 (includes
      corresponding Graph/Chart)                                        II-59

      Table 16: World Long-Term Projections for Demand of Corrugated
      and Paperboard Boxes for Non-Durable Products by Geographic
      Region - US, Canada, Japan, Europe, Asia-Pacific (excluding
      Japan), Latin America, and Rest of World Markets Independently
      Analyzed with Annual Sales Figures in US$ Million for Years
      2011 through 2015 (includes corresponding Graph/Chart)            II-60

      Table 17: World 10-Year Perspective for Demand of Corrugated
      and Paperboard Boxes for Non-Durable Products Geographic
      Region - Percentage Breakdown of Dollar Sales for US, Canada,
      Japan, Europe, Asia-Pacific (excluding Japan), Latin America,
      and Rest of World Markets for 2003, 2007 & 2012 (includes
      corresponding Graph/Chart)                                        II-61

      Table 18: World Recent Past, Current & Future Analysis for
      Demand of Corrugated and Paperboard Boxes for Food & Beverages
      by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
      (excluding Japan), Latin America, and Rest of World Markets
      Independently Analyzed with Annual Sales Figures in US$
      Million for Years 2000 through 2010 (includes corresponding
      Graph/Chart)                                                      II-62

      Table 19: World Long-Term Projections for Demand of Corrugated
      and Paperboard Boxes for Food & Beverages by Geographic Region
      - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
      Latin America, and Rest of World Markets Independently
      Analyzed with Annual Sales Figures in US$ Million for Years
      2011 through 2015 (includes corresponding Graph/Chart)            II-63

      Table 20: World 10-Year Perspective for Demand of Corrugated
      and Paperboard Boxes for Food & Beverages by Geographic Region
      - Percentage Breakdown of Dollar Sales for US, Canada, Japan,
      Europe, Asia-Pacific (excluding Japan), Latin America, and
      Rest of World Markets for 2003, 2007 & 2012 (includes
      corresponding Graph/Chart)                                        II-64

      Table 21: World Recent Past, Current & Future Analysis for
      Demand of Corrugated and Paperboard Boxes for Paper &
      Publishing Products by Geographic Region - US, Canada, Japan,
      Europe, Asia-Pacific (excluding Japan), Latin America, and
      Rest of World Markets Independently Analyzed with Annual Sales
      Figures in US$ Million for Years 2000 through 2010 (includes
      corresponding Graph/Chart)                                        II-65

      Table 22: World Long-Term Projections for Demand of Corrugated
      and Paperboard Boxes for Paper & Publishing Products by
      Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
      (excluding Japan), Latin America, and Rest of World Markets
      Independently Analyzed with Annual Sales Figures in US$
      Million for Years 2011 through 2015 (includes corresponding
      Graph/Chart)                                                      II-66

      Table 23: World 10-Year Perspective for Demand of Corrugated
      and Paperboard Boxes for Paper & Publishing Products by
      Geographic Region - Percentage Breakdown of Dollar Sales for
      US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
      Latin America, and Rest of World Markets for 2003, 2007 & 2012
      (includes corresponding Graph/Chart)                              II-67

      Table 24: World Recent Past, Current & Future Analysis for
      Demand of Corrugated and Paperboard Boxes for Chemicals &
      Allied Products by Geographic Region - US, Canada, Japan,
      Europe, Asia-Pacific (excluding Japan), Latin America, and
      Rest of World Markets Independently Analyzed with Annual Sales
      Figures in US$ Million for Years 2000 through 2010 (includes
      corresponding Graph/Chart)                                        II-68

      Table 25: World Long-Term Projections for Demand of Corrugated
      and Paperboard Boxes for Chemicals & Allied Products by
      Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
      (excluding Japan), Latin America, and Rest of World Markets
      Independently Analyzed with Annual Sales Figures in US$
      Million for Years 2011 through 2015 (includes corresponding
      Graph/Chart)                                                      II-69

      Table 26: World 10-Year Perspective for Demand of Corrugated
      and Paperboard Boxes for Chemicals & Allied Products by
      Geographic Region - Percentage Breakdown of Dollar Sales for
      US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
      Latin America, and Rest of World Markets for 2003, 2007 & 2012
      (includes corresponding Graph/Chart)                              II-70

      Table 27: World Recent Past, Current & Future Analysis for
      Demand of Corrugated and Paperboard Boxes for Other
      Non-Durable Products by Geographic Region - US, Canada, Japan,
      Europe, Asia-Pacific (excluding Japan), Latin America, and
      Rest of World Markets Independently Analyzed with Annual Sales
      Figures in US$ Million for Years 2000 through 2010 (includes
      corresponding Graph/Chart)                                        II-71

      Table 28: World Long-Term Projections for Demand of Corrugated
      and Paperboard Boxes for Other Non-Durable Products by
      Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
      (excluding Japan), Latin America, and Rest of World Markets
      Independently Analyzed with Annual Sales Figures in US$
      Million for Years 2011 through 2015 (includes corresponding
      Graph/Chart)                                                      II-72

      Table 29: World 10-Year Perspective for Demand of Corrugated
      and Paperboard Boxes for Other Non-Durable Products by
      Geographic Region - Percentage Breakdown of Dollar Sales for
      US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
      Latin America, and Rest of World Markets for 2003, 2007 & 2012
      (includes corresponding Graph/Chart)                              II-73

      Table 30: World Recent Past, Current & Future Analysis for
      Demand of Corrugated and Paperboard Boxes for Durable Products
      by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
      (excluding Japan), Latin America, and Rest of World Markets
      Independently Analyzed with Annual Sales Figures in US$
      Million for Years 2000 through 2010 (includes corresponding
      Graph/Chart)                                                      II-74

      Table 31: World Long-Term Projections for Demand of Corrugated
      and Paperboard Boxes for Durable Products by Geographic Region
      - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
      Latin America, and Rest of World Markets Independently
      Analyzed with Annual Sales Figures in US$ Million for Years
      2011 through 2015 (includes corresponding Graph/Chart)            II-75

      Table 32: World 10-Year Perspective for Demand of Corrugated
      and Paperboard Boxes for Durable Products by Geographic Region
      - Percentage Breakdown of Dollar Sales for US, Canada, Japan,
      Europe, Asia-Pacific (excluding Japan), Latin America, and
      Rest of World Markets for 2003, 2007 & 2012 (includes
      corresponding Graph/Chart)                                        II-76

III. MARKET

  1. The United States                                                  III-1
      A.Market Analysis                                                 III-1
        Current and Future Analysis                                     III-1
        Nominal Growth Expected in the Near Future                      III-1
        Outlook                                                         III-2
         By Product Segment                                             III-2
         By End-Use Segments                                            III-2
        Competition                                                     III-2
         Challenges from Plastic Packaging                              III-2
         Corrugated Box Market- Competition                             III-3
        Packaging Industry - Outlook                                    III-3
        Food Container Market                                           III-3
         Outlook                                                        III-3
         Plastic Food Containers                                        III-3
         Paperboard Food Containers                                     III-3
         Metal Containers                                               III-4
         Glass Containers                                               III-4
        Corrugated Packaging - Overview                                 III-4
         Corrugated and Paperboard Box                                  III-4
          Table 33: US Corrugated Box Sales (2004-2006) - In Million
          Square Feet (includes corresponding Graph/Chart)              III-5
          Table 34: Percentage Breakdown of US Corrugated Box
           Shipments by Region in 2006 (includes corresponding
            Graph/Chart)                                                III-5
          Table 35: Leading Players in the US Corrugated and
          Paperboard Box Market (2006): Percentage Breakdown by
          Market Share for Smurfit-Stone, Weyerhaeuser,
          Temple-Inland, International Paper, Georgia-Pacific, and
          Others (includes corresponding Graph/Chart)                   III-6
         Market Trends                                                  III-6
          Changing Industry Structure Over the Years                    III-6
          Increasing Demand for Flute Boxes                             III-6
          Tough Times Ahead for Triple Wall Box                         III-6
          Shifted Focus in End-Use Segments                             III-7
          High Growth End-Use Markets                                   III-7
          Cosmetics, Toiletries to Drive Demand of Folding Carton       III-7
          More Paperboard Converters Focusing on Consumer Packaging     III-7
         Raw Material Access - A Major Challenge                        III-8
         Merchandisers - Changing Requirements                          III-8
         Business Through Internet                                      III-8
         Production Shifts                                              III-8
        Factors Affecting Demand                                        III-8
        Folding Paperboard Boxes                                        III-9
         Environmental Profile                                          III-9
         Lobbying Efforts for Folding Paperboard Boxes                  III-9
         Product and Process Innovations                                III-9
         Expanding Customer Base                                        III-9
         End-User Profile for Folding Cartons                           III-10
        Industry Overview in the Recent Past                            III-10
         Paperboard Packaging Industry                                  III-10
         Consolidation Trends Over the Years                            III-11
         Production and Technological Developments                      III-11
          Environmental Issues                                          III-12
         Recycling                                                      III-12
          Corrugated Recycling                                          III-12
          Corrugated and Paperboard Box Recycling                       III-12
        Product Launches                                                III-13
        Recent Industry Activity                                        III-14
        Key US Players                                                  III-18
      B.Market Analytics                                                III-22
        Table 36: US Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by Product Segment -
        Corrugated & Solid Fiber Box, Folding Paperboard Box, and
        Set-Up Paperboard Box Markets Independently Analyzed with
        Annual Sales Figures in US$ Million for Years 2000 through
        2010 (includes corresponding Graph/Chart)                       III-22

        Table 37: US Long-Term Projections for Corrugated and
        Paperboard Boxes by Product Segment - Corrugated & Solid
        Fiber Box, Folding Paperboard Box, and Set-Up Paperboard Box
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2011 through 2015 (includes
        corresponding Graph/Chart)                                      III-22

        Table 38: US Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by End-Use Segment -
        Non-Durables (Food & Beverages, Paper and Publishing
        Products, Chemicals & Allied Products, and Others), and
        Durables End-Use Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2000 through 2010
        (includes corresponding Graph/Chart)                            III-23

        Table 39: US Long-Term Projections for Corrugated and
        Paperboard Boxes by End-Use Segment - Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2011 through 2015 (includes corresponding
        Graph/Chart)                                                    III-23

        Table 40: US 10-Year Perspective for Corrugated and
        Paperboard Boxes by Product Segment - Percentage Breakdown
        of Dollar Sales for Corrugated & Solid Fiber Box, Folding
        Paperboard Box, and Set-Up Paperboard Box Markets for 2003,
        2007 & 2012 (includes corresponding Graph/Chart)                III-24

        Table 41: US 10-Year Perspective for Corrugated and
        Paperboard Boxes by End-Use Segment - Percentage Breakdown
        of Dollar Sales for Non-Durables (Food & Beverages, Paper
        and Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets for 2003, 2007 & 2012
        (includes corresponding Graph/Chart)                            III-24

  2. Canada                                                             III-25
      A.Market Analysis                                                 III-25
        Industry Overview                                               III-25
        Current and Future Analysis                                     III-25
        Market Structure                                                III-25
        Market Trends                                                   III-25
         Mini-Flute and Printing                                        III-25
         e-Commerce- Potential Business Technique                       III-26
        Factors Affecting Canadian Market                               III-26
        Export -Import Scenario                                         III-26
        Technological Advancements                                      III-26
        Environmentally Safe Practices                                  III-26
        Strategic Corporate Developments                                III-27
        Norampac Inc. - A Key Player                                    III-28
      B.Market Analytics                                                III-28
        Table 42: Canadian Recent Past, Current & Future Analysis
        for Corrugated and Paperboard Boxes by Product Segment -
        Corrugated & Solid Fiber Box, Folding Paperboard Box, and
        Set-Up Paperboard Box Markets Independently Analyzed with
        Annual Sales Figures in US$ Million for Years 2000 through
        2010 (includes corresponding Graph/Chart)                       III-28

        Table 43: Canadian Long-Term Projections for Corrugated and
        Paperboard Boxes by Product Segment - Corrugated & Solid
        Fiber Box, Folding Paperboard Box, and Set-Up Paperboard Box
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2011 through 2015 (includes
        corresponding Graph/Chart)                                      III-29

        Table 44: Canadian Recent Past, Current & Future Analysis
        for Corrugated and Paperboard Boxes by End-Use Segment -
        Non-Durables (Food & Beverages, Paper and Publishing
        Products, Chemicals & Allied Products, and Others), and
        Durables End-Use Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2000 through 2010
        (includes corresponding Graph/Chart)                            III-29

        Table 45: Canadian Long-Term Projections for Corrugated and
        Paperboard Boxes by End-Use Segment - Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2011 through 2015 (includes corresponding
        Graph/Chart)                                                    III-30

        Table 46: Canadian 10-Year Perspective for Corrugated and
        Paperboard Boxes by Product Segment - Percentage Breakdown
        of Dollar Sales for Corrugated & Solid Fiber Box, Folding
        Paperboard Box, and Set-Up Paperboard Box Markets for 2003,
        2007 & 2012 (includes corresponding Graph/Chart)                III-30

        Table 47: Canadian 10-Year Perspective for Corrugated and
        Paperboard Boxes by End-Use Segment - Percentage Breakdown
        of Dollar Sales for Non-Durables (Food & Beverages, Paper
        and Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets for 2003, 2007 & 2012
        (includes corresponding Graph/Chart)                            III-31

  3. Japan                                                              III-32
      A.Market Analysis                                                 III-32
        Current and Future Analysis                                     III-32
         Table 48: Corrugated Box Consumption in Japan (2004-2006) -
         In Thousand Square Meters (includes corresponding
         Graph/Chart)                                                   III-32
        Market Dynamics in End-Use Segments                             III-32
        Corrugated Cardboard Trends in End-Use Segments                 III-33
        Futuristic Outlook for Industries Using Corrugated Box          III-33
        Folding Carton Trends                                           III-33
        Strategic Corporate Developments                                III-34
        Key Japanese Players                                            III-34
      B.Market Analytics                                                III-35
        Table 49: Japanese Recent Past, Current & Future Analysis
        for Corrugated and Paperboard Boxes by Product Segment -
        Corrugated & Solid Fiber Box, Folding Paperboard Box, and
        Set-Up Paperboard Box Markets Independently Analyzed with
        Annual Sales Figures in US$ Million for Years 2000 through
        2010 (includes corresponding Graph/Chart)                       III-35

        Table 50: Japanese Long-Term Projections for Corrugated and
        Paperboard Boxes by Product Segment - Corrugated & Solid
        Fiber Box, Folding Paperboard Box, and Set-Up Paperboard Box
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2011 through 2015 (includes
        corresponding Graph/Chart)                                      III-36

        Table 51: Japanese Recent Past, Current & Future Analysis
        for Corrugated and Paperboard Boxes by End-Use Segment -
        Non-Durables (Food & Beverages, Paper and Publishing
        Products, Chemicals & Allied Products, and Others), and
        Durables End-Use Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2000 through 2010
        (includes corresponding Graph/Chart)                            III-36

        Table 52: Japanese Long-Term Projections for Corrugated and
        Paperboard Boxes by End-Use Segment - Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2011 through 2010 (includes corresponding
        Graph/Chart)                                                    III-37

        Table 53: Japanese 10-Year Perspective for Corrugated and
        Paperboard Boxes by Product Segment - Percentage Breakdown
        of Dollar Sales for Corrugated & Solid Fiber Box, Folding
        Paperboard Box, and Set-Up Paperboard Box Markets for 2003,
        2007 & 2012 (includes corresponding Graph/Chart)                III-37

        Table 54: Japanese 10-Year Perspective for Corrugated and
        Paperboard Boxes by End-Use Segment - Percentage Breakdown
        of Dollar Sales for Non-Durables (Food & Beverages, Paper
        and Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets for 2003, 2007 & 2012
        (includes corresponding Graph/Chart)                            III-38

  4. Europe                                                             III-39
      A.Market Analysis                                                 III-39
        Current and Future Analysis                                     III-39
         Table 55: Corrugated Box Consumption in Europe (2004-2006):
         By Region - France, Germany, Britain, Italy, Spain and
         Others (In Million Sq.m) (includes corresponding
         Graph/Chart)                                                   III-40
        Regulations                                                     III-40
        Paper and Paperboard Industry in the Recent Past                III-40
        Corrugated and Paperboard Packaging Industry in the Recent Past III-41
         Market Trends                                                  III-41
          Consolidation                                                 III-41
          European Firms Play M&A Game                                  III-42
          Supply/Demand Imbalance                                       III-42
          Intrusion of Returnable Transit Packaging into Corrugated
           Box Market                                                   III-42
          Supermarkets - The Major End-User for Returnable Transit
           Packaging                                                    III-43
          Areas Where Corrugated Boxes Lose Out to RTP                  III-43
        Strategic Corporate Developments                                III-43
      B.Market Analytics                                                III-46
        Table 56: European Recent Past, Current & Future Analysis
        for Corrugated & Paperboard Boxes by Geographic Region -
        France, Germany, Italy, The UK, Spain, Russia, and Rest of
        Europe Markets Independently Analyzed with Annual Sales
        Figures in US$ Million for Years 2000 through 2010 (includes
        corresponding Graph/Chart)                                      III-46

        Table 57: European Long-Term Projections for Corrugated &
        Paperboard Boxes by Geographic Region - France, Germany,
        Italy, The UK, Spain, Russia, and Rest of Europe Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2011 through 2015 (includes corresponding
        Graph/Chart)                                                    III-47

        Table 58: European Recent Past, Current & Future Analysis
        for Corrugated and Paperboard Boxes by Product Segment -
        Corrugated & Solid Fiber Box, Folding Paperboard Box, and
        Set-Up Paperboard Box Markets Independently Analyzed with
        Annual Sales Figures in US$ Million for Years 2000 through
        2010 (includes corresponding Graph/Chart)                       III-48

        Table 59: European Long-Term Projections for Corrugated and
        Paperboard Boxes by Product Segment - Corrugated & Solid
        Fiber Box, Folding Paperboard Box, and Set-Up Paperboard Box
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2011 through 2015 (includes
        corresponding Graph/Chart)                                      III-48

        Table 60: European Recent Past, Current & Future Analysis
        for Corrugated and Paperboard Boxes by End-Use Segment -
        Non-Durables (Food & Beverages, Paper and Publishing
        Products, Chemicals & Allied Products, and Others), and
        Durables End-Use Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2000 through 2010
        (includes corresponding Graph/Chart)                            III-49

        Table 61: European Long-Term Projections for Corrugated and
        Paperboard Boxes by End-Use Segment - Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2011 through 2015 (includes corresponding
        Graph/Chart)                                                    III-50

        Table 62: European 10-Year Perspective for Corrugated and
        Paperboard Boxes by Geographic Region - Percentage Breakdown
        of Dollar Sales for France, Germany, Italy, The UK, Spain,
        Russia, and Rest of Europe Markets for 2003, 2007 & 2012
        (includes corresponding Graph/Chart)                            III-51

        Table 63: European 10-Year Perspective for Corrugated and
        Paperboard Boxes by Product Segment - Percentage Breakdown
        of Dollar Sales for Corrugated & Solid Fiber Box, Folding
        Paperboard Box, and Set-Up Paperboard Box Markets for 2003,
        2007 & 2012 (includes corresponding Graph/Chart)                III-51

        Table 64: European 10-Year Perspective for Corrugated and
        Paperboard Boxes by End-Use Segment - Percentage Breakdown
        of Dollar Sales for Non-Durables (Food & Beverages, Paper
        and Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets for 2003, 2007 & 2012
        (includes corresponding Graph/Chart)                            III-52

  4a. France                                                            III-53
      A.Market Analysis                                                 III-53
        Current and Future Analysis                                     III-53
         Table 65: French Folding Cartons Output (2005-2007) in
         thousand tons (includes corresponding Graph/Chart)             III-53
      B.Market Analytics                                                III-54
        Table 66: French Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by Product Segment -
        Corrugated & Solid Fiber Box, Folding Paperboard Box, and
        Set-Up Paperboard Box Markets Independently Analyzed with
        Annual Sales Figures in US$ Million for Years 2000 through
        2010 (includes corresponding Graph/Chart)                       III-54

        Table 67: French Long-Term Projections for Corrugated and
        Paperboard Boxes by Product Segment - Corrugated & Solid
        Fiber Box, Folding Paperboard Box, and Set-Up Paperboard Box
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2011 through 2015 (includes
        corresponding Graph/Chart)                                      III-54

        Table 68: French Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by End-Use Segment -
        Non-Durables (Food & Beverages, Paper and Publishing
        Products, Chemicals & Allied Products, and Others), and
        Durables End-Use Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2000 through 2010
        (includes corresponding Graph/Chart)                            III-55

        Table 69: French Long-Term Projections for Corrugated and
        Paperboard Boxes by End-Use Segment - Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2011 through 2015 (includes corresponding
        Graph/Chart)                                                    III-56

        Table 70: French 10-Year Perspective for Corrugated and
        Paperboard Boxes by Product Segment - Percentage Breakdown
        of Dollar Sales for Corrugated & Solid Fiber Box, Folding
        Paperboard Box, and Set-Up Paperboard Box Markets for 2003,
        2007 & 2012 (includes corresponding Graph/Chart)                III-56

        Table 71: French 10-Year Perspective for Corrugated and
        Paperboard Boxes by End-Use Segment - Percentage Breakdown
        of Dollar Sales for Non-Durables (Food & Beverages, Paper
        and Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets for 2003, 2007 & 2012
        (includes corresponding Graph/Chart)                            III-57

  4b. Germany                                                           III-58
      A.Market Analysis                                                 III-58
        Current and Future Analysis                                     III-58
        Market Trends                                                   III-58
        Max Kroenert Maschinenbaufabrik GmbH & Co - A Key Player        III-58
      B.Market Analytics                                                III-59
        Table 72: German Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by Product Segment -
        Corrugated & Solid Fiber Box, Folding Paperboard Box, and
        Set-Up Paperboard Box Markets Independently Analyzed with
        Annual Sales Figures in US$ Million for Years 2000 through
        2010 (includes corresponding Graph/Chart)                       III-59

        Table 73: German Long-Term Projections for Corrugated and
        Paperboard Boxes by Product Segment - Corrugated & Solid
        Fiber Box, Folding Paperboard Box, and Set-Up Paperboard Box
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2011 through 2015 (includes
        corresponding Graph/Chart)                                      III-59

        Table 74: German Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by End-Use Segment -
        Non-Durables (Food & Beverages, Paper and Publishing
        Products, Chemicals & Allied Products, and Others), and
        Durables End-Use Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2000 through 2010
        (includes corresponding Graph/Chart)                            III-60

        Table 75: German Long-Term Projections for Corrugated and
        Paperboard Boxes by End-Use Segment - Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2011 through 2015 (includes corresponding
        Graph/Chart)                                                    III-61

        Table 76: German 10-Year Perspective for Corrugated and
        Paperboard Boxes by Product Segment - Percentage Breakdown
        of Dollar Sales for Corrugated & Solid Fiber Box, Folding
        Paperboard Box, and Set-Up Paperboard Box Markets for 2003,
        2007 & 2012 (includes corresponding Graph/Chart)                III-61

        Table 77: German 10-Year Perspective for Corrugated and
        Paperboard Boxes by End-Use Segment - Percentage Breakdown
        of Dollar Sales for Non-Durables (Food & Beverages, Paper
        and Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets for 2003, 2007 & 2012
        (includes corresponding Graph/Chart)                            III-62

  4c. Italy                                                             III-63
      A.Market Analysis                                                 III-63
        Current and Future Analysis                                     III-63
      B.Market Analytics                                                III-63
        Table 78: Italian Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by Product Segment -
        Corrugated & Solid Fiber Box, Folding Paperboard Box, and
        Set-Up Paperboard Box Markets Independently Analyzed with
        Annual Sales Figures in US$ Million for Years 2000 through
        2010 (includes corresponding Graph/Chart)                       III-63

        Table 79: Italian Long-Term Projections for Corrugated and
        Paperboard Boxes by Product Segment - Corrugated & Solid
        Fiber Box, Folding Paperboard Box, and Set-Up Paperboard Box
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2011 through 2015 (includes
        corresponding Graph/Chart)                                      III-64

        Table 80: Italian Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by End-Use Segment -
        Non-Durables (Food & Beverages, Paper and Publishing
        Products, Chemicals & Allied Products, and Others), and
        Durables End-Use Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2000 through 2010
        (includes corresponding Graph/Chart)                            III-64

        Table 81: Italian Long-Term Projections for Corrugated and
        Paperboard Boxes by End-Use Segment - Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2011 through 2015 (includes corresponding
        Graph/Chart)                                                    III-65

        Table 82: Italian 10-Year Perspective for Corrugated and
        Paperboard Boxes by Product Segment - Percentage Breakdown
        of Dollar Sales for Corrugated & Solid Fiber Box, Folding
        Paperboard Box, and Set-Up Paperboard Box Markets for 2003,
        2007 & 2012 (includes corresponding Graph/Chart)                III-65

        Table 83: Italian 10-Year Perspective for Corrugated and
        Paperboard Boxes by End-Use Segment - Percentage Breakdown
        of Dollar Sales for Non-Durables (Food & Beverages, Paper
        and Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets for 2003, 2007 & 2012
        (includes corresponding Graph/Chart)                            III-66

  4d. The United Kingdom                                                III-67
      A.Market Analysis                                                 III-67
        Current and Future Analysis                                     III-67
        Industry Structure:                                             III-67
        Paperboard Market Composition                                   III-67
        Industry Developments                                           III-68
        Tough Manufacturing Scenario                                    III-68
        Industry Activities to Combat Poor Corrugated Container
         Market Conditions                                              III-68
        Plastic Poses a Potential Threat                                III-69
        Liquid Packaging Systems- Overview                              III-69
         Liquid Packaging Systems Lose Ground to Plastics               III-69
        Paper and Board Packaging Imports                               III-69
        Regulations                                                     III-69
        Other Issues                                                    III-69
        Packaging Industry (1997-2001): A Retrospection                 III-70
         Carton Market Gains Stability                                  III-70
         Highly Affected Players                                        III-70
         Paper Sacks- Outlook                                           III-71
        Key Players in the UK                                           III-71
      B.Market Analytics                                                III-72
        Table 84: UK Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by Product Segment -
        Corrugated & Solid Fiber Box, Folding Paperboard Box, and
        Set-Up Paperboard Box Markets Independently Analyzed with
        Annual Sales Figures in US$ Million for Years 2000 through
        2010 (includes corresponding Graph/Chart)                       III-72

        Table 85: UK Long-Term Projections for Corrugated and
        Paperboard Boxes by Product Segment - Corrugated & Solid
        Fiber Box, Folding Paperboard Box, and Set-Up Paperboard Box
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2011 through 2015 (includes
        corresponding Graph/Chart)                                      III-73

        Table 86: UK Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by End-Use Segment -
        Non-Durables (Food & Beverages, Paper and Publishing
        Products, Chemicals & Allied Products, and Others), and
        Durables End-Use Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2000 through 2010
        (includes corresponding Graph/Chart)                            III-73

        Table 87: UK Long-Term Projections for Corrugated and
        Paperboard Boxes by End-Use Segment - Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2011 through 2015 (includes corresponding
        Graph/Chart)                                                    III-74

        Table 88: UK 10-Year Perspective for Corrugated and
        Paperboard Boxes by Product Segment - Percentage Breakdown
        of Dollar Sales for Corrugated & Solid Fiber Box, Folding
        Paperboard Box, and Set-Up Paperboard Box Markets for 2003,
        2007 & 2012 (includes corresponding Graph/Chart)                III-74

        Table 89: UK 10-Year Perspective for Corrugated and
        Paperboard Boxes by End-Use Segment - Percentage Breakdown
        of Dollar Sales for Non-Durables (Food & Beverages, Paper
        and Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets for 2003, 2007 & 2012
        (includes corresponding Graph/Chart)                            III-75

  4e. Spain                                                             III-76
      A.Market Analysis                                                 III-76
        Current and Future Analysis                                     III-76
        Alier S.A - A Key Player                                        III-76
      B.Market Analytics                                                III-76
        Table 90: Spanish Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by Product Segment -
        Corrugated & Solid Fiber Box, Folding Paperboard Box, and
        Set-Up Paperboard Box Markets Independently Analyzed with
        Annual Sales Figures in US$ Million for Years 2000 through
        2010 (includes corresponding Graph/Chart)                       III-76

        Table 91: Spanish Long-Term Projections for Corrugated and
        Paperboard Boxes by Product Segment - Corrugated & Solid
        Fiber Box, Folding Paperboard Box, and Set-Up Paperboard Box
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2011 through 2015 (includes
        corresponding Graph/Chart)                                      III-77

        Table 92: Spanish Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by End-Use Segment -
        Non-Durables (Food & Beverages, Paper and Publishing
        Products, Chemicals & Allied Products, and Others), and
        Durables End-Use Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2000 through 2010
        (includes corresponding Graph/Chart)                            III-77

        Table 93: Spanish Long-Term Projections for Corrugated and
        Paperboard Boxes by End-Use Segment - Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2011 through 2015 (includes corresponding
        Graph/Chart)                                                    III-78

        Table 94: Spanish 10-Year Perspective for Corrugated and
        Paperboard Boxes by Product Segment - Percentage Breakdown
        of Dollar Sales for Corrugated & Solid Fiber Box, Folding
        Paperboard Box, and Set-Up Paperboard Box Markets for 2003,
        2007 & 2012 (includes corresponding Graph/Chart)                III-78

        Table 95: Spanish 10-Year Perspective for Corrugated and
        Paperboard Boxes by End-Use Segment - Percentage Breakdown
        of Dollar Sales for Non-Durables (Food & Beverages, Paper
        and Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets for 2003, 2007 & 2012
        (includes corresponding Graph/Chart)                            III-79

  4f. Russia                                                            III-80
      A.Market Analysis                                                 III-80
        Current and Future Analysis                                     III-80
        Industry Structure                                              III-80
        Slump on Export Duties for Cardboard Boxes                      III-80
        Ilim Pulp Enterprise - A Key Player                             III-80
      B.Market Analytics                                                III-81
        Table 96: Russian Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by Product Segment -
        Corrugated & Solid Fiber Box, Folding Paperboard Box, and
        Set-Up Paperboard Box Markets Independently Analyzed with
        Annual Sales Figures in US$ Million for Years 2000 through
        2010 (includes corresponding Graph/Chart)                       III-81

        Table 97: Russian Long-Term Projections for Corrugated and
        Paperboard Boxes by Product Segment - Corrugated & Solid
        Fiber Box, Folding Paperboard Box, and Set-Up Paperboard Box
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2011 through 2015 (includes
        corresponding Graph/Chart)                                      III-82

        Table 98: Russian Recent Past, Current & Future Analysis for
        Corrugated and Paperboard Boxes by End-Use Segment -
        Non-Durables (Food & Beverages, Paper and Publishing
        Products, Chemicals & Allied Products, and Others), and
        Durables End-Use Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2000 through 2010
        (includes corresponding Graph/Chart)                            III-82

        Table 99: Russian Long-Term Projections for Corrugated and
        Paperboard Boxes by End-Use Segment - Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2011 through 2015 (includes corresponding
        Graph/Chart)                                                    III-83

        Table 100: Russian 10-Year Perspective for Corrugated and
        Paperboard Boxes by Product Segment - Percentage Breakdown
        of Dollar Sales for Corrugated & Solid Fiber Box, Folding
        Paperboard Box, and Set-Up Paperboard Box Markets for 2003,
        2007 & 2012 (includes corresponding Graph/Chart)                III-83

        Table 101: Russian 10-Year Perspective for Corrugated and
        Paperboard Boxes by End-Use Segment - Percentage Breakdown
        of Dollar Sales for Non-Durables (Food & Beverages, Paper
        and Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets for 2003, 2007 & 2012
        (includes corresponding Graph/Chart)                            III-84

  4g. Rest of Europe                                                    III-85
      A.Market Analysis                                                 III-85
        Current and Future Analysis                                     III-85
        Austria                                                         III-85
         Austrian Corrugated Packaging                                  III-85
         Recycling of Corrugated Board                                  III-85
        Estonia                                                         III-86
         Packaging Industry                                             III-86
        Raw Material Scenario                                           III-86
        Key Players                                                     III-86
      B.Market Analytics                                                III-87
        Table 102: Rest of Europe Recent Past, Current & Future
        Analysis for Corrugated and Paperboard Boxes by Product
        Segment - Corrugated & Solid Fiber Box, Folding Paperboard
        Box, and Set-Up Paperboard Box Markets Independently
        Analyzed with Annual Sales Figures in US$ Million for Years
        2000 through 2010 (includes corresponding Graph/Chart)          III-87

        Table 103: Rest of Europe Long-Term Projections for
        Corrugated and Paperboard Boxes by Product Segment -
        Corrugated & Solid Fiber Box, Folding Paperboard Box, and
        Set-Up Paperboard Box Markets Independently Analyzed with
        Annual Sales Figures in US$ Million for Years 2011 through
        2015 (includes corresponding Graph/Chart)                       III-87

        Table 104: Rest of Europe Recent Past, Current & Future
        Analysis for Corrugated and Paperboard Boxes by End-Use
        Segment - Non-Durables (Food & Beverages, Paper and
        Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets Independently Analyzed
        with Annual Sales Figures in US$ Million for Years 2000
        through 2010 (includes corresponding Graph/Chart)               III-88

        Table 105: Rest of Europe Long-Term Projections for
        Corrugated and Paperboard Boxes by End-Use Segment -
        Non-Durables (Food & Beverages, Paper and Publishing
        Products, Chemicals & Allied Products, and Others), and
        Durables End-Use Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2011 through 2015
        (includes corresponding Graph/Chart)                            III-89

        Table 106: Rest of Europe 10-Year Perspective for Corrugated
        and Paperboard Boxes by Product Segment - Percentage
        Breakdown of Dollar Sales for Corrugated & Solid Fiber Box,
        Folding Paperboard Box, and Set-Up Paperboard Box Markets
        for 2003, 2007 & 2012 (includes corresponding Graph/Chart)      III-89

        Table 107: Rest of Europe 10-Year Perspective for Corrugated
        and Paperboard Boxes by End-Use Segment - Percentage
        Breakdown of Dollar Sales for Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets for
        2003, 2007 & 2012 (includes corresponding Graph/Chart)          III-90

  5. Asia-Pacific                                                       III-91
      A.Market Analysis                                                 III-91
        Introduction                                                    III-91
        Current and Future Analysis                                     III-91
        Corrugated Sector Shows Promising Signs in Asia                 III-91
        Manufacturers' Increasing Interest in China                     III-92
        Increasing Packaging Needs                                      III-93
        Australia & New Zealand                                         III-93
         Table 108: New Zealand Corrugated Box Market (2006):
         Percentage Breakdown of Market Share of Leading Players
         -Amcor, Carters and Visy (includes corresponding
         Graph/Chart)                                                   III-93

         Table 109: Australian Corrugated Box Market (2006):
         Percentage Breakdown of Market Share of Leading Players
         -Visy, Amcor and Carters (includes corresponding
         Graph/Chart)                                                   III-93

         Table 110: New Zealand Folding Carton Market (2006):
         Percentage Breakdown of Market Share of Leading Players
         -Amcor, Carters and Others)                                    III-94

         Table 111: Australia Folding Carton Market (2006):
         Percentage Breakdown of Market Share of Leading Players
         -Amcor, Carters and Others (includes corresponding
         Graph/Chart)                                                   III-94
        China                                                           III-94
         Outlook- CPB Industry                                          III-94
         Packaging Industry                                             III-95
          Paper and Paperboard Packaging Industry in the Recent Past    III-95
          Paper Bags and Sacks                                          III-96
         Economy Factors                                                III-96
         Import Export Scenario                                         III-96
        Hong Kong                                                       III-97
         Paradigm Shift Towards CPB                                     III-97
        India                                                           III-97
         Overview- Corrugated Industry                                  III-97
          Table 112: Corrugated Packaging in India (2006):
          Percentage Breakdown by End-use Segments - Textiles/Yarns,
          Processed Foods, Soaps/Cosmetics, Distillery, Consumer
          Durables, and Others (includes corresponding Graph/Chart)     III-97
         Corrugated Packaging Industry                                  III-97
        Maldives                                                        III-98
        Malaysia                                                        III-98
         Overview                                                       III-98
         Supply and Demand                                              III-98
         Price                                                          III-98
        Sri Lanka                                                       III-98
         Paging Sector                                                  III-99
         Market Prospects                                               III-99
         Target Market                                                  III-99
        Indonesia                                                       III-99
         Corrugated Carton Box Industry                                 III-99
         Competition and Entry Barriers                                 III-100
        Strategic Corporate Developments                                III-100
        Key Players                                                     III-100
      B.Market Analytics                                                III-102
        Table 113: Asia-Pacific Recent Past, Current & Future
        Analysis for Corrugated and Paperboard Boxes by Product
        Segment - Corrugated & Solid Fiber Box, Folding Paperboard
        Box, & Set-Up Paperboard Box Markets Independently Analyzed
        with Annual Sales Figures in US$ Million for Years 2000
        through 2010 (includes corresponding Graph/Chart)               III-102

        Table 114: Asia-Pacific Long-Term Projections for Corrugated
        and Paperboard Boxes by Product Segment - Corrugated & Solid
        Fiber Box, Folding Paperboard Box, & Set-Up Paperboard Box
        Markets Independently Analyzed with Annual Sales Figures in
        US$ Million for Years 2011 through 2015 (includes
        corresponding Graph/Chart)                                      III-102

        Table 115: Asia-Pacific Recent Past, Current & Future
        Analysis for Corrugated and Paperboard Boxes by End-Use
        Segment - Non-Durables (Food & Beverages, Paper and
        Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets Independently Analyzed
        with Annual Sales Figures in US$ Million for Years 2000
        through 2010 (includes corresponding Graph/Chart)               III-103

        Table 116: Asia-Pacific Long-Term Projections for Corrugated
        and Paperboard Boxes by End-Use Segment - Non-Durables (Food
        & Beverages, Paper and Publishing Products, Chemicals &
        Allied Products, and Others), and Durables End-Use Markets
        Independently Analyzed with Annual Sales Figures in US$
        Million for Years 2011 through 2015 (includes corresponding
        Graph/Chart)                                                    III-103

        Table 117: Asia-Pacific 10-Year Perspective for Corrugated
        and Paperboard Boxes by Product Segment - Percentage
        Breakdown of Dollar Sales for Corrugated & Solid Fiber Box,
        Folding Paperboard Box, and Set-Up Paperboard Box Markets
        for 2003, 2007 & 2012 (includes corresponding Graph/Chart)      III-104

        Table 118: Asia-Pacific 10-Year Perspective for Corrugated
        and Paperboard Boxes by End-Use Segment - Percentage
        Breakdown of Dollar Sales for Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets for
        2003, 2007 & 2012 (includes corresponding Graph/Chart)          III-105

  6. Latin America                                                      III-106
      A.Market Analysis                                                 III-106
        Current and Future Analysis                                     III-106
        Mexico                                                          III-106
         Brazil                                                         III-106
         Dominican Republic                                             III-106
        EL-Salvador                                                     III-106
         Packaging Industry                                             III-106
         Competitive Factors                                            III-106
         Manufacturing Scenario                                         III-107
         End-Users                                                      III-107
         Impact of Natural Calamities and Downturn of Coffee market     III-107
        Strategic Corporate Developments                                III-107
        Product Launches                                                III-108
        Key Players in Latin America                                    III-110
      B.Market Analytics                                                III-111
        Table 119: Latin American Recent Past, Current & Future
        Analysis for Corrugated and Paperboard Boxes by Product
        Segment - Corrugated & Solid Fiber Box, Folding Paperboard
        Box, and Set-Up Paperboard Box Markets Independently
        Analyzed with Annual Sales Figures in US$ Million for Years
        2000 through 2010 (includes corresponding Graph/Chart)          III-111

        Table 120: Latin American Long-Term Projections for
        Corrugated and Paperboard Boxes by Product Segment -
        Corrugated & Solid Fiber Box, Folding Paperboard Box, and
        Set-Up Paperboard Box Markets Independently Analyzed with
        Annual Sales Figures in US$ Million for Years 2011 through
        2015 (includes corresponding Graph/Chart)                       III-112

        Table 121: Latin American Recent Past, Current & Future
        Analysis for Corrugated and Paperboard Boxes by End-Use
        Segment - Non-Durables (Food & Beverages, Paper and
        Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets Independently Analyzed
        with Annual Sales Figures in US$ Million for Years 2000
        through 2010 (includes corresponding Graph/Chart)               III-112

        Table 122: Latin American Long-Term Projections for
        Corrugated and Paperboard Boxes by End-Use Segment -
        Non-Durables (Food & Beverages, Paper and Publishing
        Products, Chemicals & Allied Products, and Others), and
        Durables End-Use Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2011 through 2015
        (includes corresponding Graph/Chart)                            III-113

        Table 123: Latin American 10-Year Perspective for Corrugated
        and Paperboard Boxes by Product Segment - Percentage
        Breakdown of Dollar Sales for Corrugated & Solid Fiber Box,
        Folding Paperboard Box, and Set-Up Paperboard Box Markets
        for 2003, 2007 & 2012 (includes corresponding Graph/Chart)      III-113

        Table 124: Latin American 10-Year Perspective for Corrugated
        and Paperboard Boxes by End-Use Segment - Percentage
        Breakdown of Dollar Sales for Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets for
        2003, 2007 & 2012 (includes corresponding Graph/Chart)          III-114

  7. Rest of World                                                      III-115
      A.Market Analysis                                                 III-115
        Current and Future Analysis                                     III-115
        Jamaica                                                         III-115
        Egypt                                                           III-115
         Corrugated Carton Boxes                                        III-115
        Recent Industry Activity                                        III-116
         International Paper Acquires Majority Stake in CMCP            III-116
      B.Market Analytics                                                III-116
        Table 125: Rest of World Recent Past, Current & Future
        Analysis for Corrugated and Paperboard Boxes by Product
        Segment - Corrugated & Solid Fiber Box, Folding Paperboard
        Box, and Set-Up Paperboard Box Markets Independently
        Analyzed with Annual Sales Figures in US$ Million for Years
        2000 through 2010 (includes corresponding Graph/Chart)          III-116

        Table 126: Rest of World Long-Term Projections for
        Corrugated and Paperboard Boxes by Product Segment -
        Corrugated & Solid Fiber Box, Folding Paperboard Box, and
        Set-Up Paperboard Box Markets Independently Analyzed with
        Annual Sales Figures in US$ Million for Years 2011 through
        2015 (includes corresponding Graph/Chart)                       III-117

        Table 127: Rest of World Recent Past, Current & Future
        Analysis for Corrugated and Paperboard Boxes by End-Use
        Segment - Non-Durables (Food & Beverages, Paper and
        Publishing Products, Chemicals & Allied Products, and
        Others), and Durables End-Use Markets Independently Analyzed
        with Annual Sales Figures in US$ Million for Years 2000
        through 2010 (includes corresponding Graph/Chart)               III-117

        Table 128: Rest of World Long-Term Projections for
        Corrugated and Paperboard Boxes by End-Use Segment -
        Non-Durables (Food & Beverages, Paper and Publishing
        Products, Chemicals & Allied Products, and Others), and
        Durables End-Use Markets Independently Analyzed with Annual
        Sales Figures in US$ Million for Years 2011 through 2015
        (includes corresponding Graph/Chart)                            III-118

        Table 129: Rest of World 10-Year Perspective for Corrugated
        and Paperboard Boxes by Product Segment - Percentage
        Breakdown of Dollar Sales for Corrugated & Solid Fiber Box,
        Folding Paperboard Box, and Set-Up Paperboard Box Markets
        for 2003, 2007 & 2012 (includes corresponding Graph/Chart)      III-118

        Table 130: Rest of World 10-Year Perspective for Corrugated
        and Paperboard Boxes by End-Use Segment - Percentage
        Breakdown of Dollar Sales for Non-Durables (Food &
        Beverages, Paper and Publishing Products, Chemicals & Allied
        Products, and Others), and Durables End-Use Markets for
        2003, 2007 & 2012 (includes corresponding Graph/Chart)          III-119

 IV. COMPETITIVE LANDSCAPE