Nippon Paper, SCG Paper Form JV for Machine Glazed Paper in Thailand
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Nippon Paper Industries Co., Japan, has concluded a joint venture agreement with SCG Paper Public Co., Thailand, for the production and sale of machine glazed paper in Thailand. Nippon will have a 55% equity investment in the new joint venture company, to be known as Siam Nippon Industrial Paper Co. It will be headquartered in Banpong, Ratchaburi Province, Thailand. The total investment will be THB 2,200 million (approximately 5.5 billion yen).
The joint venture company plans to install a new paper machine with a production capacity of 43,000 metric tpy on the existing SCG Paper production site. Startup is scheduled for the first quarter of 2014.
The two companies noted that economic growth in the emerging markets of Asia has brought more demand for high-end industrial paper. SCG's existing infrastructure and utilities and Nippon Paper Group's technological and sales capabilities can be utilized to sell to Southeast Asia and neighboring countries industrial paper that is cost-competitive and has a quality advantage, they pointed out.
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