Oji Paper Co Ltd, Japan's second-largest paper maker, announced plans to purchase a paper plant in China that is owned by Procter & Gamble Co. The acquisition is part of Oji’s expansion into the China market.
Oji said it would acquire the plant through a transfer of all shares of P&G's B&C International Co Ltd, an overseas holding company of the plant, to Oji. The acquisition should be complete by next month.
The plant is located in Suzhou, Jiangsu Province. It has an annual production capacity of 15,600 metric tons, mainly making paper rolls and tissues.Latest from Recycling Today
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