The owners of the Winschoten, Netherlands-based paper and plastics recycling company Waste Paper Trade (WPT) have agreed to sell the company to Cycle Link International Holdings Ltd., which is a subsidiary of the Chinese paper company Shanying International.
With the sale, as reported online by Germany-based EUWID, WPT plans on focusing more of its efforts on the Asian market.
The contract between the parties was signed on June 12 and is subject to antitrust approvals.
Maanshan, China-based Shanying International is part of the larger Ji’an Paper Group, which manufactures corrugated board, testliner and other paperboards as well as kraft paper and newsprint.
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