Sinarmas and Dawang in Allied Operation in Shengpu Township
Mas-Wang (SIP) Sanitary Article Co., Ltd., jointly invested by APP of Sinarmas Group, the leading manufacturer in China's paper making, and the Japanese Dawang, went into operation on the morning of July 10. The first phase of the project, 29 million US dollars in value, will launch a series of “Elis”-branded products for ladies by the end of this month in East China market. The project is another large-scale project invested by Sinarmas Group in Shengpu Township.
Sinarmas Group of Indonesia was founded in 1962 with 20 billion USD assets and investment covering Asian, North America, Europe, and Australia. The Group has now formed 4 core industries, namely, pulp and paper making, financial and banking, agriculture and food processing, and real estate development. APP Corporation, a leading enterprise under the Group and the earliest tycoon in global paper making industry to have invested hugely in China, has grown to be one of the top ten paper manufacturers of the world with a total assets of over 10 billion USD. Its investment in Mainland China has now amounted to 54 billion yuan RMB, and its accumulated sales revenue has exceeded 23 billion yuan RMB.
The Japanese-owned Dawang Corporation, the largest paper manufacturer in Japan found in 1943, owns some 70 subsidiaries with an annual output of 3 million tons of paper and annual sales revenue exceeding 34.5 billion Japanese yan. Its core facility has an annual output of 2 billion tons, and is the world's largest streamlined pulp-and-paper manufacturer in the world.
Among the guests of honor at the opening ceremony were: Zhou Weiqiang, Vice-mayor of Suzhou, Yang Jianzhong, Vice-director of Sipac, Yu Jiqiang, Director of Shengpu Township Center of Investment Promotion, Huang Jiesheng, Chairman of Mas-Wang (SIP) Sanitary Article Co., Ltd., and Vice-chairman and General Manager the Company.
In his speech at the ceremony, Vice-mayor Zhou Weiqiang pledged that Jiangsu Provincial Government, Suzhou Municipality, and Sipac would keep their commitments to all foreign-invested enterprises and consistently support, and provide first-class service to, the development of the enterprises, and strive to build up a development environment with more competitiveness for sustainable progress in SIP in the next century. He also gave high appraisal to the work of Shengpu Township in promoting overseas investment, and expressed his belief that the entry of the Indonesian-Japanese joint-venture company would further promote the paper-making industry and the economic leap in the township.
July 11, 2006