Huatai to form JV

Published: 08 Oct 2009 08:02:01 PST

Huatai Group has entered an agreement with Brussels-based Solvay to establish a hydrogen peroxide joint venture (JV) in Shandong Province, according to a press release Thursay.

The JV will build a hydro¬gen peroxide plant with an an¬nual capacity of 50,000 tons. The chemical product will primarily be used by Huatai to produce papers, according to the press release.

The Shanghai-listed paper producer is the world's largest newsprint manufacturer and has a paper production capac¬ity of 3 million tons a year.

Huatai reported an EPS of 0.25 yuan (3.7 cents) for the quarter ended June 30,down 54.5 percent from the same period last year.

Global Times/Reuters

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