Merger and acquisition (M&A) activity in the forest, paper and packaging sector was fairly brisk in 2009 in spite of falling demand in many sectors and the global economic crisis. Latin America, the world's leading manufacturer of pulp, constituted the bright spot in M&A activity in this sector last year. These assessments were made by the auditing firm Pricewaterhouse Coopers (PwC) in its annual M&A report entitled Branching Out - 2009 Annual Review, which analyses mergers and acquisitions in the global forest, pulp and paper sector.
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