Schweitzer modi announced to invest in the production of cigarette cards in China
Schweitzer modi international group of the United States recently announced the success of its investment in the production of cigarette cards in China. The project is a joint venture with China Tobacco Corporation, a major subsidiary of the General Administration of tobacco of China, which specializes in the production of cigarette cards and insulating paper. China Tobacco Corporation and Schweitzer Maude will each hold 50% of the shares under the hydrolysis. This joint venture project has been approved by the Chinese government and enjoys bank financing
this project is to build an advanced paper mill with two paper machines, with an annual output of about 3.6 tons of cigarette cards. The factory paper is selected near Jiangmen City, Guangdong Province. It will take about two years from the official approval of the government to the official completion of the factory. If the anti-aging capacity is not good or the sensor material is not good, the construction cost includes the capital construction cost and operating cost, which will cost about $1billion. Maude company will provide technical support and participation. 3. When conducting pressure test and operation management
Schweitzer moder has been engaged in cigarette card sales trade with China for about 20 years. This cooperative investment with China means that moder will increase its participation in China's tobacco market. China's tobacco market accounts for about 30% of the world's tobacco market. The new plant will focus on producing high-quality cigarette cards and insulating paper, and help the General Administration of tobacco of China reduce the tar content of tobacco in the Chinese tobacco market
Wayne, chairman of Maude International Group, commented: "We are very happy and proud to cooperate with the General Administration of tobacco of China and the tobacco company of a country with a weak mining market in China. The new plant will be built as soon as possible as the largest paper mill in China's tobacco industry. Another significance of this joint venture with China is that it is consistent with Schweitzer Maude's strategy of continuing to expand the business scope in Asia after establishing the industries in Indonesia and the Philippines.