Nippon Paper Industries signs agreement with Tokushu Tokai Paper

Friday, Oct 23, 2015

Nippon Paper Industries resolved to conclude a basic agreement with Tokushu Tokai Paper Co., Ltd. concerning their containerboard and sack & general purpose kraft paper sales business, as the company said in the press release received by Lesprom Network.

This agreement covers the integration of their sales functions and the demerger of the manufacturing business at the Shimada Mill of Tokushu Tokai Paper and the Company's investment in the new manufacturing company ("the Business Alliance").

The Business Alliance, which will be discussed and examined by both parties, will come into effect in or about October 2016, subject to conclusion of the final agreement and approval by the Japan Fair Trade Commission and the General Meeting of Shareholders of Tokushu Tokai Paper, etc.

The Nippon Paper Group is a corporate group engaged in paper manufacturing and related businesses.

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