APRIL acquires 90% interest in Shandong Rizhao Pulp and Paper in China
SAN FRANCISCO , October 25, 2005 (Edited by Forestweb) – RGM International officially announced on Aug. 22 its member Asia Pacific Resources International Holdings Ltd. (APRIL) acquired 90% interest in Shandong Rizhao SSYMB Pulp and Paper Co. Ltd. in Rizhao, Shandong Province, according to People's Daily Online in China.
After the purchase, the APRIL will upgrade the existing production lines for pulp and paperboard to greatly extend the annual production capacity. The mill produces liquid packaging board and folding boxboard from virgin fiber.
RGM International, founded in 1967, is a comprehensive industrial group in the Asian-Pacific area, with assets in excess of US$6 billion, People's Daily reported, adding that its president, Chen Jianghe, whose ancestry is in Fujian province, has won fame as "a genius in commerce."