|
IP, Sun Paper form China venture
(Shenzhen Daily)
Updated: 2006-03-27 16:12
International Paper (IP) and Shandong Sun Paper Ltd. have agreed to form a
50/50 joint venture for coated board production in Yanzhou City, Shandong
Province.
The companies expect to sign the agreement during IP CEO John Faraci's visit
to Jinan, the capital city of Shandong Province, in early April.
The joint venture includes two coated paperboard machines located in Yanzhou
City, and construction of a third coated paperboard machine, expected to be
completed in late 2007. IP's investment in the venture is expected to be
approximately US$140 million. This amount includes IP's share of the investment
in the new paper machine.
|
| |
|
| |