25 October 2012

Oji, Marubeni and JK Paper Announce Corrugated Conatiner JV in India

25 October 2012 – Oji Holdings Corporation had incorporated an Indian subsidiary Oji India Packaging Pvt Ltd, effective June 20, 2012, for the purpose of starting Corrugated Container Business in India. The Business Plan for Oji India Packaging has recently been approved. 

It has now been decided to conduct the business under a Joint Venture to be formed by Oji, JK Paper Ltd., who is a leading manufacturer of pulp and paper in India, and Marubeni Corporation in Japan. Three parties have executed a Joint Venture Agreement effective today. 

Oji will continuously seek opportunities to meet the increasing demand of corrugated packaging materials in India, which is growing at a healthy rate in line with economic growth. 

The new company Oji JK Packaging Private Limited will be engaged in manufacturing and sales of Corrugated Container products (sheet & box). Its head office will be in Gurgaon, Haryana State and the shareholding will be Oji 60%, JK 20% and Marubeni 20%. The JV will have a capital of INR 730 million. 

Source: Oji