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2008-2-20 05:48:00 p.m. HKT, XFNA
HK-listed Samson Paper to buy Shandong assets in 385.25 mln yuan deal
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HONG KONG (XFN-ASIA) - Samson Paper Holdings Ltd said it has agreed to
buy factory and machinery assets in Shangdong from Shandong Huazhong Paper Co
and Shandong Huacai Paper Co in a 385.25 mln yuan deal.
The assets include land and factories, which consist of machinery
currently in use, production equipment, a electricity power plant and a water
treatment plant.
The factories consist of 4 production lines, of which a facility has
annual capacity to manufacture about 170,000 metric tons of duplex boards
and another facility has the capacity to produce 20,000 metric tons of
kraftliner boards. A third one is involved in corrugated media.
The fourth production line is still under construction. That facility is
expected to have an installed capacity of approximately 200,000 metric tons
of kraftliner boards and corrugated products
Samson Paper said the acquisition will enable it to further enlarge its
market share, and help it boost its sales and secure a stable supply of some
types of paper products.
roby.lau@xfn.com
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