November 4, 1997
A New Housing Materials Company Started
Nippon Paper Industries Co., Ltd.
Nippon Paper Industries Co., Ltd. announced to establish a new company - PAL Co., Ltd. on April 4, 1998 to diversify the company's housing materials division as an independent entity.
|Profile of new company|
|Company's name||:||PAL Co., Ltd.|
|Capital||:||4 billion yen|
|Representative officer||:||Takashi Wakai ,
President (Present Senior Managing Director of Nippon Paper Industries and General manager of Housing materials division )
|Head office||:||No 4-3-17 Shinjuku, Shinjukuku, Tokyo (Office of Housing Materials Division of Nippon Paper Industries)|
|Employee||:||314 (as of the end of March 1997)|
|Subsidiaries||:||Yufutsu Pal Co.,Ltd.
Kanto Pal Co.,Ltd.
Pal Plywood Co.,Ltd.
Pal Building Materials Co.,Ltd.
N & E Co., Ltd.
Matsuura Shoji Co.,Ltd.
Sanyo Kokusaku House Co.,Ltd.
Total employee : 747 as of March, 1997
|Sales||:||50.1 billion yen (Actual in 1996)|
|Business||:||Manufacturing and sales of housing materials, stairs, housing components, wood flooring, wood wallboard, MDF(medium-density fiberboard), plywood, PB (particle board)|
The new company will be 100 percent owned by Nippon Paper Industries, and take over all the assets, sales right and employee excluding land.