The subsidiary will have a capital stock of half-a-million Australian dollars.
SEATTLE (Scrap Monster): Nippon Paper Industries Co., Ltd. announced that it has established a new local subsidiary in Australia. The Australian subsidiary would further strengthen the company’s liquid packaging carton business in the region and result in significant expansion of its global business.
The subsidiary will have a capital stock of half-a-million Australian dollars. It will mainly deal with import and wholesale sales of liquid packaging cartons and filling machines in the Oceania region.
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As part of expansion into the Oceania market, the company had signed a license agreement covering the Oceania region with Elopak ASA in March this year. Also, entered into a general agency agreement separately with Shikoku Kakoki Co.,Ltd. in Japan in connection with sales of filling machines in the region. The opening of the new subsidiary will focus on the company’s joint efforts with its partners to expand its base in the region.
It must be noted that demand for paper packages made mainly from woody biomass raw materials is forecast to witness significant growth in the region.
Nippon Paper reinforced its commitment to pursue the possibility of paper packages made from sustainable woody materials, thereby making notable contribution to the lives of people in Japan and around the world.
