January 19, 2005
Production at Joint Venture Partner in China Suspended
Nippon Paper Industries Co., Ltd.
On January 18, Chengde Dixian Textile Co., Ltd. produced to Shenzhen Stock Exchange an official notification of suspension of production because of a cash-flow problem. Nippon Paper Industries Co., Ltd. (President: Takahiko Miyoshi) had earlier set up a joint venture company with Chengde Dixian Textile for the paper business in the northern part of China. The name of the joint venture is Nippon Paper Industries Chengde Co., Ltd.
Nippon Paper Industries is currently striving to collect accurate information. For this reason, staff members from the Chengde Project Promotion Office were dispatched to the Chinese city of Chengde on January 19.