Scott Paper venture gains regulatory approval in China.PHILADELPHIA--(BUSINESS WIRE)--Jan. 30, 1995--Scott Paper Co. Monday announced that its recently announced venture with 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. Paper Co. has received the necessary business license from the Chinese government Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
"We're pleased to have been given the government go-ahead to legally cement our business relationship with China's largest paper manufacturer," 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 , Scott chairman and chief executive officer. "The business license clears the way to begin our operations in the second quarter of 1995." The new venture is now officially known as Scott Paper (Shanghai) Co. Ltd. Scott is a 56 percent owner of the company. First announced in August, 1994, the new company makes Scott the first major international tissue manufacturer to create an enterprise of this magnitude in China, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Dunlap. Plans call for the start-up in 1995 of a new tissue machine at the Shanghai plant that will be the largest such operation in China with the capacity to produce quality tissue products for the Chinese market and for export. According to Dunlap this new operation on a 123-acre site along 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). represents a major opportunity for Scott. "We recognize the potential of China's huge, high-growth market with 1.2 billion consumers," Dunlap said. "And we are delighted to be able to move forward with our commitment to market leadership there." Dunlap said Scott Paper (Shanghai) Co. Ltd. is a further indication of Scott's commitment to China and to Asia as a whole, as a part of the company's overall strategy to build its core tissue business on a worldwide basis. Scott Paper Co. is the world's largest manufacturer and marketer of 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 products, with operations in 22 countries. It recently announced the establishment of operations in Indonesia, and has existing businesses and licensees throughout the Pacific region including 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. , Malaysia, Taiwan, Thailand, Japan, Korea, Australia and the Philippines. CONTACT: Scott Paper Co., Philadelphia Bob Sprague, 412/394-6625 or Pete Judice, 212/614-4506 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion