APRIL acquires 90% of China's Shandong Rizhao SSYMB Pulp and Paper
Sep 08, 2005. Asia Pacific Resources International Holdings Ltd (APRIL) announced that it has completed the acquisition of a 90% interest in Shandong Rizhao SSYMB Pulp and Paper Co. Ltd. from Rizhao First Light Industry Company and Shandong International Trust and Investment Company.
Sep 08, 2005. /Lesprom Network/. Asia Pacific Resources International Holdings Ltd (APRIL) announced that it has completed the acquisition of a 90% interest in Shandong Rizhao SSYMB Pulp and Paper Co. Ltd. from Rizhao First Light Industry Company and Shandong International Trust and Investment Company. These two shareholders will each continue to retain a 5% interest in the company. Following the acquisition, the company will be renamed as Shandong Asia Pacific SSYMB Pulp & Paper Co. Ltd.
APRIL SSYMB's state-of-the art mill has a pulp line and paperboard machine with a current designed annual production capacity of 220,000 tonnes and 170,000 tonnes respectively. The company plans to de-bottleneck the mill and install additional environmental protection equipment which will make it a benchmark operation in China.