Lee & Man to Startup PM 17 in July, Construct Fifth Industrial Park at Ruichang, China
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Lee & Man Paper, China, reports that next month (July) it will startup its new PM 17 containerboard machine with a designed capacity of 600,000 metric tpy of coated duplex board. PM 17 follows startup of the company's PM 15 and PM 16, with a combined annual design capacity of 900,000 metric tpy of containerboard, in August and November 2011, respectively.
Lee & Man also reported that to capture demand for quality containerboard in central and western China, it has begun construction of its fifth paper production industrial park at Ruichang, Jiangxi Province, within which PM 18 is expected to begin operation in March 2013, and will add 500,000 metric tpy to the group's total production capacity.
"Guided by the principle to maintain a responsible debt level, we are expanding the group's production capacity to lay a foundation for our future development. Once the global economy and market situation improve, we believe the group is well-positioned to capture the opportunities and deliver better returns to our shareholders," Raymond Lee, CEO of Lee & Man Paper, said.
Lee & Man Paper Manufacturing Ltd specializes in a range of linerboard and corrugating medium used to produce cardboard boxes for packaging purposes. Currently, the group has four paper production plants in China, located at Hongmei and Huangyong in Dongguan, Changshu in Jiangsu, and Yongchuan in Chongqing.
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