China's Fujian Nanping Paper, Huasheng Investment to form JV pulp and paper firm Longyan Nanping Paper

BEIJING , February 3, 2010 () – Fujian Nanping Paper Co. and Huasheng Investment Co. plan to form a joint venture pulp and paper firm called Longyan Nanping Paper.

Of the 250 million yuan (US$38.1 million) in registration capital invested in the joint venture, Nanping Paper will contribute 170 million yuan and hold a 68% stake.

Longyan Nanping Paper will produce and sell pulp and paper products, plant fiber and other products.

The joint venture firm will also conduct distribution and retailing, and act as purchase and sales agent for chemical products and building materials.

It also will engage in personnel training for light industry, technical consultation and service, paper and forest technology consultation and service, and leasing of assets.

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