| PAPER INDUSTRY NEWS - MAY 2004 |
This page contains pulp and paper industry news for May 2004
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NEWS MAY 2004
May 2004
APRIL to Acquire 90% of Shandong Rizhao SSYMB Pulp and
Paper Co. Ltd.
Jinan, Shandong, China, 13 May 2004 -- Asia Pacific Resources
International Holdings Ltd (''APRIL'') today announced that it had signed a
definitive agreement to acquire a 90% share interest in Shandong Rizhao SSYMB
Pulp and Paper Co. Ltd. (''SSYMB'') from existing shareholders, Rizhao First
Light Industry Company and Shandong International Trust and Investment Company. The existing shareholders will continue to retain a 5% share interest each in
SSYMB after the sale. SSYMB will be converted from a state-owned enterprise
into a sino-foreign joint venture company, and renamed as Asia Pacific SSYMB
(Shandong) Pulp and Paper Co. Ltd.
SSYMB is located in Rizhao, a fast-developing port city on the southeastern
coast of Shandong Province. Its modern, two-year old, state-of- the-art mill
has a pulp line and paperboard machine with designed annual production capacity
of 220,000 tonnes and 170,000 tonnes respectively.
The acquisition of SSYMB signifies another major strategic move for APRIL's pulp
and paper businesses in China.
''We see tremendous potential in SSYMB. We plan to expand its pulp and
paperboard capacity. Last year, China imported 6.03 million tonnes of pulp.
SSYMB is well positioned to serve both the markets in China and East Asia,
including South Korea and Japan. These investments in capacity expansion
represent our major commitment to Shandong and China. We look forward to
working closely with SSYMB's management and staff in realizing these exciting
challenges,'' said A. J. Devanesan, President of APRIL.
JP completes acquistion in Austria
and the Czech Republic
28 May 2004
The transaction between Jaakko Pöyry Group Oyj and Verbund AG by which Verbundplan GmbH (74.9 per cent of the shares), Verbundplan Prüf- und Messtechnik GbmH (97.25 per cent) and AQUATIS a.s. (95.19 per cent) are transferred into Jaakko Pöyry Group Oyj's ownership, has been approved yesterday, May 27, 2004.
Jaakko Pöyry Group Oyj has published releases concerning the acquisition on December 2, 2003 and April 15, 2004. These releases include moredetailed information on the business of the acquired companies and their consolidation into the Jaakko Pöyry Group.
JAAKKO PÖYRY GROUP OYJ
Mayr-Melnhof Acquistions
27 May 2004
SECOND FOLDING CARTON FACILITY IN POLAND
Mayr-Melnhof Packaging has acquired the Polish folding carton plant Poligram SP.J, located in Warsaw. The company was privately owned and the purchase price will not be disclosed. In the year 2003 the dynamically growing company registered sales of approximately EUR 9 million. The facility mainly produces high-grade packaging for food and thereby ideally complements the customer and product portfolio of the existing MMP plant, Neupack Polska, Bydgosz. Based on the increased local production capacity, as well as the expanded product program, MMPackaging will continue to benefit from the strongly growing consumer goods market in Poland.
EXPANSION IN ROMANIA
MM Packaging Romania S.A., Ploiesti, founded in 1997 and market leader in the Romanian folding carton market has acquired the competitor, Rodata S.A., Bucharest. The company was privately owned and had sales of approximately EUR 3.5 million in 2003. The facility concentrates on the production of high-grade packaging which constitutes an appealing addition to the current product range of MM-Packaging in Romania.
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