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P&G AND CMPC FORM JOINT VENTURE IN CHILE

 P&G AND CMPC FORM JOINT VENTURE IN CHILE
 CINCINNATI, Oct. 10 /PRNewswire/ -- The Procter & Gamble Company


(NYSE: PG) and Compania Manufacturera de Papeles y Cartones S.A. (CMPC) today announced the formation of a joint venture to market disposable diapers and feminine pads in Chile, Argentina, Paraguay, Uruguay and Bolivia.
 The joint venture business in Chile will be conducted through Prosan, one of the companies in the CMPC group. Each partner has a 50 percent ownership position.
 P&G's only current entry in the diaper and feminine pad categories in these five countries is the Eguimad business in Argentina which P&G acquired in 1991. The Eguimad brands will now become part of the joint venture.
 "This joint venture is one more step in expanding our diaper and feminine protection products businesses worldwide," said John E. Pepper, president, the Procter & Gamble Company. "We will gain immediate entry into these strategically important product categories in Chile, Paraguay, Uruguay and Bolivia and strengthen our presence in Argentina. CMPC is a well known and respected company with strong, high quality, well-established disposable diaper and feminine protection pad brands. We expect to complement their resources by bringing our advanced technology and global management and marketing experience to the venture."
 CMPC, a publicly-held company headquartered in Santiago, Chile with more than 9,300 employees, makes and markets pulp and paper products. Its total sales exceeded $582 million in 1991. Prosan, a subsidiary of CMPC, has 530 employees and manufactures and markets Babysan disposable diapers and Ladysan feminine protection pads.
 Procter and Gamble had worldwide sales of $29.4 billion in fiscal 1991-92. The company makes and markets a wide range of products for both consumer and institutional use worldwide. The international business accounted for about 49 percent of the company's total sales in fiscal 1991-92. P&G has on-the-ground operations in 54 countries, and does business in more than 140 countries.
 -0- 10/10/92
 /CONTACT: William F. Dobson, 513-983-9546, or Terry E. Loftus, 513-983-9789, both of Procter & Gamble/
 (PG) CO: Procter & Gamble Company; Compania Manufacturera de Papeles y
 Cartones S.A. ST: Ohio IN: HOU SU: JVN


SB -- NYSA002 -- 8637 10/10/92 13:43 EDT
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Publication:PR Newswire
Date:Oct 10, 1992
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