Oji Holdings Corporation has decided to form a business alliance as well as a capital alliance through third-party stock allocation with Chuetsu Pulp & Paper Co., as the company said in the press release received by Lesprom Network.
Japanese demand of paper-bag, especially of heavy-duty packaging, has long been declining and this severe situation is thought to continue into the future. On the other hand, the demand has been increasing in overseas developing nations along with their economic growth.
The companies have decided to establish the joint intermediary holding company with an aim to promote growth of bag-making business.
Chuetsu Pulp & Paper is a pulp and paper manufacturer.
Source : lesprom.com