ND Paper, a wholly-owned subsidiary of Nine Dragons Paper (Holdings) Limited, on Friday, Oct. 19, completed its acquisition of the Old Town kraft pulp mill from OTM Holdings, LLC, a subsidiary of CVG, Inc. Under the terms of the asset purchase agreement, ND Paper acquired the bleached kraft pulp mill, plus approximately 100 acres of real property, for an undisclosed sum, payable in cash. Prior to its idling in the fourth quarter of 2015, the Old Town Mill manufactured and distributed approximately 155,000 air dried metric tonnes (admt) annually of bleached hardwood kraft pulp. After a series of phased capital investments, ND Paper expects the Mill will restart in the first quarter of 2019 and ultimately produce 275,000 admt annually of unbleached kraft pulp.
Asia Pulp & Paper joins other companies who have pledged to fight climate change (CW Group) Asia Pulp & Paper, one of the largest paper companies in the world, has joined leading global companies in committing to CDP’s ‘Road to Paris’ Initiative, reports Packaging Europe. The signatories of the initiative have pledged their commitment on fighting climate change and can disclose their progress in fulfilling those commitments through the CDP reporting mechanism.
Asia Pulp and Paper has successfully implemented zero commodity driven deforestation from its supply chain. The members of ‘Road to Paris’ are committed to completed a global timeline to cut natural forest loss in half by year 2020 and strive to end it by year 2030.
Asia Pulp and Paper has also committed to support the protection and restoration of one million hectares of tropical rainforest in Indonesia; one of the most ambitious conservation commitments ever made by a private company.
“Ambitious targets such as zero deforestation can be agreed to, implemented and achieved by global companies, many of those operating in emerging economies. Our view is that wherever a company is involved in the forest supply chain, they should be committing to fight climate change and deforestation,” said Aida Greenbury, managing director of sustainability of Asia Pulp and Paper.