Jian-Anhui merger gains government OK, combo to create No. 3 in China

摘要

In a merger deal expected to be completed in the next year, China's Anhui Shanying Paper Industry will acquire Jian Paper in a $481 million deal that would create the third largest containerboard producer by capacity in China. China's two largest containerboard producers are Nine Dragons Paper (No. 1) and Lee & Man Paper (No. 2). The Shanying-Jian transaction would be the first large consolidation in the Chinese containerboard industry. China became the largest single country paper and board producer in the world by capacity in 2008-2009 after a 15-year or so buildup. In container-board, China's capacity this year is 53.5 million tonnes, up from 12.4 million in 2002, according to RISI capacity figures.