Jul 06, 2010 (M2 PRESSWIRE via COMTEX) -- Braintree,Ma. LevelStock.com is pleased to announce to all of its members and investors information on International Paper (OTCBB:INPAP). The Company recently released news as follows:
Shandong Sun Paper Joint Stock Co., Ltd. announces today it is to sign a letter of intent with International Paper (OTCBB:INPAP) (NYSE:IP) Asia about construction of a joint venture food packaging paperboard project with an annual capacity of 400,000 tons.
The project, with not more than USD 300 million investment, aims to meet rising demands for top-grade food package paperboard. It can make use of Sun Paper's mature facilities to reduce production cost and improve competitiveness.
Sun Paper has partnered with US-based International Paper, actual controller of International Paper Asia, to set up two cooperative joint ventures in Yanzhou city, Shandong Province. The two joint ventures mainly produces white board paper and liquid packaging paper that are urgently needed in the market, so they maintain good profits.
To meet Sun Paper and the cooperative joint venture' rising demands for chemi-mechanical pulp, Sun Paper's subsidiary Yanzhou Heli Paper Industry Co. plans to introduce advanced mechanical wood pulp devices during the technical modification of its current chemi-mechanical pulp production lines. Total investments are estimated to reach CNY 200 million and the modification may take nine months.
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