Scott Paper begins production in China -- Chairman & CEO Dunlap sees tremendous growth opportunity.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Oct. 3, 1995--Scott Paper Co. announced Tuesday Tuesday: see week. that its joint venture operation in China, Scott Paper (Shanghai Shanghai (shăng`hī`, shäng`hī`), city (1994 est. pop. 12,980,000), in, but independent of, Jiangsu prov., E China, on the Huangpu (Whangpoo) River where it flows into the Chang (Yangtze) estuary. ) Ltd., has begun to manufacture sanitary sanitary /san·i·tary/ (san´i-tar?e) promoting or pertaining to health. san·i·tar·y adj. 1. Of or relating to health. 2. tissue paper for the Chinese market and for export on its new tissue machine. The multi-million dollar venture with Shanghai Paper Co., China's largest paper company, was established in August, 1994 and gained formal government approval earlier this year. "China represents a tremendous growth opportunity for Scott," said Albert J. Dunlap Albert John Dunlap (born July 26, 1937, in Hoboken, New Jersey) is a professional corporate downsizer popularly known as "Chainsaw Al" and "Rambo in Pinstripes". Dunlap is a West Point graduate who apprenticed under Sir James Goldsmith and Kerry Packer before taking the , chairman and chief executive officer. "Use of tissue products by China's 1.2 billion people is currently very low. We believe tissue usage will expand significantly as the country's economic growth continues. "And we're in a great position as the first multinational tissue producer in this market, offering Scott's consumer brands as well as our innovative Away-From-Home products and systems for the workplace and public facilities." "We are delighted to have Shanghai Paper Corporation as our partner," Dunlap continued. "We believe the combination of Scott, the world's largest tissue company, with the largest and most experienced paper producer in the Peoples Republic of China will be a winner. "Our joint venture is committed to market leadership through aggressive sales and marketing of quality products. In fact, we anticipate demand for our products will quickly exceed our new capacity and have therefore already begun studies for further expansion." Scott owns 56% of Scott Paper (Shanghai) Ltd. The venture's manufacturing facility is strategically located on 23 acres near Shanghai by the Ren Min river Min River River, central Fujian province, southeastern China. Rising in the mountains near the Fujian-Jiangxi border, it flows southeast to empty into the China Sea after a course of 358 mi (577 km). . Its new tissue machine is the largest and most technologically advanced machine in China. Dunlap stated, "Scott's joint venture with Shanghai Paper Corporation is a further indication of our commitment to global expansion and to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the potential for growth opportunities in the tissue markets throughout Asia. "We are blanketing this high potential region with our established businesses in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Japan, Malaysia, Singapore, Taiwan and Thailand, and our new ventures in China, India and Indonesia." Scott Paper Co., the world's largest manufacturer of sanitary tissue products, has operations in 23 countries around the world and its consumer and commercial products are sold in 81 countries. Annual revenues from its global consumer and commercial businesses, including affiliates' sales, total approximately $4.5 billion. CONTACT: Scott Paper Co., Boca Raton Alex Armas, 407/989-2321 or Pete Judice, 212/614-4506 |
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