Japan, Jul 3, 2012 - Pursuant to the resolution passed at a meeting of the board of directors held on June 28, 2012, Oji Paper Co., Ltd. ("Oji Paper") is pleased to announce that it has entered an agreement with Shandong Century Sunshine Paper Group Co., Ltd ("Century Sunshine Paper") in China and Dragon Chariot Limited ("Dragon Chariot") in Hong Kong concerning the implementation of specialty paper business in China by establishing a joint venture. Oji Paper Group is driving the emergence and expansion in the specialty paper sector in China expected to be growth field in the future. After completing the incorporation formalities of such joint venture, Oji Paper Group will hold a new specialty paper manufacturing base in China.
1. New joint venture overview
1) Company Name Sunshine Oji (Shouguang) Specialty Paper Ltd.
2) Location Shouguang, Shandong, P.R.China
3) Incorporation August, 2012 (planned)
4) Registered Capital RMB 203 Million (US$32.5million)
5) Capital Structure Century Sunshine Paper 51%
Oji Paper 29%
Dragon Chariot 20%
6) Business Activity Production and sales of decorative paper
7) Production Capacity 35,000t per year
2. Objectives of new joint venture
In recent years, Chinese economy has sustained high growth, which raised housing starts especially in urban region with an increase in the demand of decorative paper for architectural material and furniture. Having sought the cooperation in the field of the decorative paper business in China Oji Paper, Century Sunshine Paper and Dragon Chariot finally reached an agreement to launch a joint venture, expecting that it will steadily meet the potential decorative paper market in china by utilizing each engineering skill and sales force. Oji Paper is aiming at the proactive business evolution in the Asian region as one of the mid-and long-term challenges of Oji groupfs management. Oji Paper will also bolster its efforts for further expansion and competitiveness of functional material business including specialty paper in a manner that would provide the community-based and customer-oriented service effectively and quickly through this newly built up operation base in China.
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1. New joint venture overview
1) Company Name Sunshine Oji (Shouguang) Specialty Paper Ltd.
2) Location Shouguang, Shandong, P.R.China
3) Incorporation August, 2012 (planned)
4) Registered Capital RMB 203 Million (US$32.5million)
5) Capital Structure Century Sunshine Paper 51%
Oji Paper 29%
Dragon Chariot 20%
6) Business Activity Production and sales of decorative paper
7) Production Capacity 35,000t per year
2. Objectives of new joint venture
In recent years, Chinese economy has sustained high growth, which raised housing starts especially in urban region with an increase in the demand of decorative paper for architectural material and furniture. Having sought the cooperation in the field of the decorative paper business in China Oji Paper, Century Sunshine Paper and Dragon Chariot finally reached an agreement to launch a joint venture, expecting that it will steadily meet the potential decorative paper market in china by utilizing each engineering skill and sales force. Oji Paper is aiming at the proactive business evolution in the Asian region as one of the mid-and long-term challenges of Oji groupfs management. Oji Paper will also bolster its efforts for further expansion and competitiveness of functional material business including specialty paper in a manner that would provide the community-based and customer-oriented service effectively and quickly through this newly built up operation base in China.">
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