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SIAM CEMENT has entered a joint-venture agreement to establish Siam Nippon Industrial Paper for Bt2.2 billion with Nippon Paper Industries Co and NP Trading Co, both subsidiaries of Nippon Paper Group.
SCG Paper will hold a 45-per-cent stake in the joint venture, while Nippon Paper Industries and NP Trading will hold the rest.
The new venture’s machine-glazed-paper manufacturing operation will be in Ratchaburi’s Ban Pong district and will have a capacity of 43,000 tonnes per year, with commercial production expected in mid-2004. Machine-glazed paper is used primarily in hygienic packaging, with applications in the food and medical industry.
TAPACO, a maker of plastic products for industrial use, posted a consolidated net profit for its second quarter ended April 30 of Bt13.31 million, up 61.1 per cent from Bt8.26 million in the same quarter last year. The main reason for the improved results was a rise in sales and service income of the company’s subsidiary.
