CHINA
From Times Staff and Wire Reports
Paper Maker Announces $400-Million Expansion: Hong Kong’s China Strategic Investment said it intends to become the biggest player in China’s paper industry. Its 55%-owned Ningbo Zhonghua Paper Co., in the eastern Chinese city Ningbo, has signed an agreement with a German consortium to buy two cardboard manufacturing machines for $232 million. It will spend the remaining $168 million on a new mill and other equipment.
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