Sun Paper terminates Vietnam, China projects

摘要

China's Sun Paper has recently deregistered two subsidiaries tocated in the Guangxi autonomous region and in Vietnam, cancelling the projects that had been considered for them. According to the firm, the decision was made to save costs and comply with its development strategy. Sun Paper established the Vietnam subsidiary in 2009, and planned to build a wharf and a woodchip mill there to secure its raw material supply. Sun Paper had 95% stake in the subsidiary, and the other 5% was held by a local firm called Vietnam Chengyu.