Nov 11, 2004. /Lesprom Network/. Sonoco, the global packaging company, has acquired a Chinese paper tube operation from Yatai in the city of Pinghu, province of Zhejiang, in the greater Shanghai area, it was announced today by Ronald E. Holley, senior vice president. The purchase price was not disclosed. Yatai, with current annual sales of approximately $4.5 million, is one of the larger tube producers in China, principally serving the man-made fiber segment of the Chinese textile market. "The acquisition of Yatai further solidifies Sonoco's position as the premiere tube producer in the greater Shanghai area, where 50 to 60 percent of all man-made fiber is produced and processed, and makes Sonoco the largest tube and core producer in China," said Holley. "This acquisition brings Sonoco's total number of tube plants in China to five. Jiangsu province, where Yatai is located and operates, and the adjoining Zhejiang province are home to the highest polyester production volume in China," stated Kevin Bryans, division vice president and general manager - Asia. Sonoco most recently acquired Ahlstrom Corporation's paper tube operation in Shouguang to serve the rapidly growing Chinese market for papermill cores. Sonoco's other operations in China include a papermill and tube and core operation in Shanghai, a tube operation in Kaiping in the south of China and a new tube facility currently under construction in Wujiang, Shengze, town of Jiangsu province, which is expected to be fully operational by year-end 2004. Sonoco, headquartered in Hartsville, South Carolina, and founded in 1899, is a global manufacturer of industrial and consumer packaging products and provider of packaging services, with more than 300 operations in 36 countries serving customers from some 85 nations.