Most popular Zhengye international spent 1.4 billi

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Zhengye international spent 140million yuan to purchase the mainland paper mill. Zhengye International announced that Yongfa, an indirect wholly-owned subsidiary, entered into an agreement to acquire 58.7% equity interests of each of the two paper mills from sellers including Japan United, lemonde, Hung Kai consultants and Hung Hing, which enable them to withstand the long-term exposure to ultraviolet/sunlight (). The total price was 142million yuan (the same below), and about 14.1914 million yuan was paid as a 10% initial deposit. The company plans to pay the consideration through its own funds and bank financing

the target group is mainly engaged in the production and sales of corrugated paper and paperboard in China. The quality of corrugated paper produced by the target group can be classified into three levels, namely AA, a and C, and the main raw materials include waste paper and pulp; At present, it has three production lines with an annual design capacity of 400000 tons, and its products are mainly sold to Chinese packaging and printing companies

the net losses of the target group after deducting taxes and non current items at the end of 2011 and 2012 were 98.651 million yuan and 96.152 million yuan respectively

the company said that it was optimistic about the high-end corrugated core paper manufacturing industry and believed that the market was in great demand for the product. Therefore, it believed that the acquisition could provide the company with additional capacity and help to improve the high-end corrugated core Jung seminar paper

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