Lee & Man confirms to open factory in Hau Giang in mid-2015
Lee & Man confirms to open factory in Hau Giang in mid-2015
Lee & Man Paper Manufacturing Limited, one of the largest containerboard manufacturers in China, has yesterday released an announcement confirming it will put the long-delayed paper factories in Hau Giang into operation in mid-2015.
“Given the buoyant development of light industries in countries such as Vietnam, Myanmar and Laos, we are actively investing overseas in the construction of factories to tap the expansion of the Southeast Asian markets. Our paper machines project in Hau Giang, Vietnam is expected to begin operation in mid-2015,” said Raymond Lee, chairman of Lee & Man Paper.
The statement underscores that the Chinese paper manufacturing will implement its previous commitment of launching the production in Vietnam, after it gained strong growth last year.
Lee & Man announced it recorded a total sales volume of 4.94 million tons of products, a total revenue of HK$16.97 billion, a full - year net profit of HK$1.95 billion, and a net profit per ton of containerboard of HK$400, maintaining an overall steady growth in profit.
Lee & Man got investment certificates in 2007 to build two factories in Song Hau industrial park in Hau Giang, which could produce 150,000 tonnes of pulp and 420,000 tonnes of packaging paper. These projects have total committed investment capital at around $600 million. But due to the global economic recession, the paper manufacturer delayed the construction for long time.
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