Stone Container Corp., a wholly-owned unit of Smurfit-Stone Container Corp, has announced that Florida Coast Paper Co. LLC, in which it holds a 50 percent stake, has filed for Chapter 11 bankruptcy protection.

Florida Coast's obligations are "non-recourse" to Stone, and the Florida Coast bankruptcy has no effect on any of the debts of Stone or any other subsidiaries of Smurfit-Stone.

Jefferson Smurfit Group has a 33 per cent stake in Smurfit-Stone Container Corp.