Taiwan's Cheng Loong to sell its Shanghai mill to Chinese real estate firm for redevelopment

摘要

Taiwan's Cheng Loong is selling its 450,000 tonne/yr recycled containerboard mill in Shanghai, China to real estate developer Vanke for RMB 1.31 billion ($205 million). The company's subsidiary Winvantage Corporation has decided to divest its 100% stake in Ever Onward Corporation, which will entail the sale of Shanghai Chung Loong Paper, the operator of the mill.