Stora Enso, Shandong Huatai form new paper company.

STORA ENSO, SHANDONG HUATAI FORM NEW PAPER COMPANY. Stora Enso, Helsinki, Finland, has agreed with Shandong Huatai Paper to form a publication paper company. The joint venture, in which Stora Enso will hold 60% of the share capital, is subject to approval by the Chinese authorities. The joint venture's paper machine at Dongying in Shandong province in China is planned to have an annual production capacity up to 200,000 metric tons of super-calendered (SC) magazine paper and other publication paper grades based on recovered fiber. The total investment of the joint venture is estimated to be approximately US$ 100 million. Assembly of the production line is tentatively scheduled for mid-2007.