Japan's Paper Manufacturer to Buy P&G Plant in China

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Last updated at: (Beijing Time) Tuesday, October 29, 2002

Japan's Paper Manufacturer to Buy P&G Plant in China

Japan's Oji Paper Co. is to buy the Procter & Gamble Co.'s paper manufacturing plant in Jiangsu Province, eastern China, for an undisclosed sum at the end of November, Kyodo News reported Monday.

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Japan's Oji Paper Co. is to buy the Procter & Gamble Co.'s paper manufacturing plant in Jiangsu Province, eastern China, for an undisclosed sum at the end of November, Kyodo News reported Monday.

The Oji Paper Co. Japan's biggest paper manufacturer, will buy all the shares of P&G Paper (Suzhou) Ltd., the operator of the plant.

The move is aimed at developing Oji Paper's manufacturing bases in China, where demand for domestic paper products is growing, Kyodo said.

With the acquisition of the plant, Oji Paper will convert the manufacturing lines for production of its Nepia brand tissue products, while also making P&G's Tempo brand product, Kyodo added.

Oji Paper will change the name of P&G Paper (Suzhou) to Oji Nepia Paper (China) Ltd., after the acquisition, said the report.

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