Siam Cement in cardboard venture in Vietnam
Rengo Co Ltd is teaming up with Siam Cement Group to set up a cardboard-making venture in Vietnam, the first foray by a Japanese firm into the paper materials business in the Southeast Asian nation, the Nikkei reported, without citing sources. Investment on the project will exceed Yen 3bn the business daily said.
Should business expand in the future, Nippon Paper Industries Co, with which Rengo has capital and business ties, may also take an equity stake, the Nikkei said.
The new company will be in the northern section of Ho Chi Minh City and is expected to annually produce 200,000 to 300,000t of cardboard materials.
Published under Cement News
