SAO PAULO, Brazil, Oct 15, 2001 (Reuters) - Brazilian paper and pulp maker Industrias Klabin Papel e Celulose SA said on Monday it would restructure its units in a cost-cutting drive it hopes will save 60 million reais ($22 million) per year. 
Klabin, one of Brazil's top producers of paper, tissue and wood pulp, will incorporate its Klamasa, KIV, Industrias Klabin and Igaras units under its subsidiary Klabin Riocell SA , the company said in a statement. 
Riocell will remain the sole publicly held company in the group and will be renamed Klabin SA. Minority shareholders in Klabin will be given shares in Riocell at par, Klabin's Director General Josemar Verillo told Reuters. 
The restructuring, to be completed by December, should reduce administrative, operational, financial and tax costs. It will also improve operating synergies, allow for a better use of financial resources and improve the group's transparency for investors, Klabin said. 
"We have a lot of business between the group. That leads to operational and financial inefficiencies," Verillo said. 
The company said it expects to save about 60 million reais ($22 million) per year and could trim staff in the long term as a result of the restructuring. 
In a separate statement responding to an inquiry by the Sao Paulo Stock Exchange, Klabin said its consolidated net revenues would be 10 percent higher in 2001, driven by exports and a depreciation of Brazil's currency. The company posted net revenues of 1.9 billion reais ($684 million) in 2000.