Hung Hing in paper plant joint venture

HUNG Hing Printing has reached a three-way agreement with Japanese and Chinese companies to establish an industrial paper plant in Zhongshan.

The company and Rengo of Japan will each own 35 per cent in the venture, while Zhongshan Paper Mill Guangdong will have a 30 per cent share of the US$28.83 million plant. The plant, to occupy 166,000 square metres, will have an annual throughput of 100,000 tonnes of paper, including 75,000 tonnes of medium paper, the raw material for corrugated carton.

Capacity of the facility is expected to increase by 50 per cent a year after it begins operation in 1996.