September 12, 2005
Withdrawal from Paper Joint Venture in Northern China Reaches Completion
Nippon Paper Industries Co., Ltd.
Nippon Paper Industries Co., Ltd. (President: Masatomo Nakamura) announces the completion of negotiations with Chengde Dixian Textile Co., Ltd. in connection with its withdrawal from a paper milling and marketing joint venture, Nippon Paper Industries Chengde Co., Ltd., in the city of Chengde, in Hebei Province, China. As a result, Nippon Paper Industries has handed over its own equity stake in Nippon Paper Industries Chengde to New Century Trading Co., Ltd., a subsidiary of Chende Dixian Textile in Japan, and has completed its withdrawal from the joint venture.