Consumables

Marubeni: Announcement Concerning a New Joint Venture in India

Thursday 25. October 2012 - For the purpose of starting a Corrugated Container Business in India, Marubeni Corporation ("Marubeni") have accepted the allocation of new shares to a third party by an Indian subsidiary of Oji Holdings Corporation ("Oji"), Oji India Packaging Pvt. Ltd. ("Oji India Packaging") along with JK Paper Ltd. ("JK"), which is a leading manufacturer of pulp and paper in India.

Marubeni is pleased to announce that it has now been decided to conduct the business under a Joint Venture to be formed by Oji, JK, and Marubeni. The three parties have executed a Joint Venture Agreement effective today.
1, Joint Venture Company
Proposed Company Name : Oji JK Packaging Private Limited *
*Oji India Packaging will apply for a change to this name to Indian
authority, after subscription of its shares by JK and Marubeni.
Registered Office : Gurgaon, Haryana State, India.
Factory location : Neemrana, Rajasthan State, India
(in the RIICO Neemrana Industrial Park, Phase 3).
Main business : Manufacturing and sales of corrugated container products
(sheet & box).
Capital Expenditures : INR 1,460million (JPY 2,200million).
Capital : INR 730million (JPY 1,100million *at completion).
*to be subscribed according to capital expenditures for
factory construction
Shareholders : Oji 60%, JK 20%, Marubeni 20% .
Start-up : January, 2014 (planned).
2, Information of J.V. Partners
Name Oji Holdings Corporation JK Paper Ltd.
Principal Office Tokyo, Japan New Delhi, India
Representative Kiyotaka Shindo Mr. O.P. Goyal (Whole Time Director)
Main Business Manufacturing and Sales of Pulp, Paper, Paperboard and Related paper products Manufacturing and Sales of Fine Paper, Multi layer virgin Packaging Boards and Coated Paper
Paid-up Capital JPY 103,880million INR 1,366million
Incorporation 1949 1960
Gross Sales JPY 1,212,912million
(Fiscal year ended in March, 2012) INR 15,571million
(Fiscal year ended in March, 2012)
Listing Tokyo Stock Exchange
Osaka Stock Exchange Bombay Stock Exchange
National Stock Exchange of India
The entire Indian corrugated container market is growing rapidly at 10% p.a. and along with expansion of foreign investments into the country, market of value-added products is growing significantly as well. The joint venture satisfies these demands for high-end packaging.
This joint venture is a strong foothold for Marubeni to expand its paper & paperboard business in India.