Nine Dragons Paper (Holdings) Ltd., Hong Kong, announced its consolidated interim results of the company and its subsidiaries for the six months ended Dec. 31, 2018. According to a Nine Dragons news release, the Hong Kong-based company achieved a revenue increase of about 18.2 percent over the corresponding period last year.
The company attributes the growth to its packaging paper business, including
According to a Nine Dragons news release, the group’s total design production capacity in packaging paperboard, printing and writing paper and high-value specialty paper and pulp products as of Dec. 31 was 15.3 million tons per year, comprising about 7.6 million tons per year of
Additionally, Nine Dragons
During the period, ND Paper, a wholly owned subsidiary of the group, completed the acquisition of two pulp mills—the Fairmont Mill in West Virginia and the Old Town Mill in Maine. The Fairmont Mill manufactures and distributes recycled pulp with a production capacity of 0.22 million tons per year. The Old Town Mill, which used to manufacture and distribute bleached hardwood kraft pulp with a production capacity of 0.16 million tons per year, will be converted to produce unbleached kraft pulp. Together with the Rumford Mill and the Biron Mill acquired by ND Paper LLC in
The group is actively pursuing the goal of completing the construction of four new paper machines in China in 2019, among which a total of three new paper machines at the Shenyang base, the Hebei base
Additionally, ND Paper LLC plans to implement a series of equipment upgrade and expansion projects at its four pulp and paper mills in the U.S., which may all be completed and begin production before the end of 2021. By then, the group’s production capacity in the U.S. will increase by 1.4 million tons per year, bringing its global total production capacity to more than 19 million tons per year.