Orient Paper, Inc. Announces Temporary Suspension of Production Due to Mandated Restriction on Natural Gas Supply

Orient Paper, Inc. (NYSE MKT: ONP) (“Orient Paper” or the “Company”), a leading manufacturer and distributor of diversified paper products in North China, today announced that it will temporarily suspend all of its production lines due to mandated restriction/suspension of natural gas supply (the “Restriction”) for all natural gas consumption industries, including the paper manufacturing industry in order to secure adequate natural gas to households uses in urban and rural areas in Hebei Province. The Restriction is in accordance with the second highest alert over supply shock of natural gas (the “Orange Alert”) which has been in place since November 27, 2017. Multiple cities in the province including Baoding and Xingtai where the Company’s facilities located have successively issued notices about the restriction of natural gas supply to their industrial users. The suspension is expected to last into February, 2018, when the Company expects the Restriction to be eased. The Company is going to implement equipment maintenance during the temporary suspension of production. The temporary suspension of production will impact the Company’s current corrugating medium paper, offset printing paper and tissue paper operations.
https://www.prnewswire.com/news-releases/orient-paper-inc-announces-temporary-suspension-of-production-due-to-mandated-restriction-on-natural-gas-supply-300587327.html

Related Posts

Clearwater Paper Suspends Idaho Operations Due to Regional Natural Gas Pipeline Incident

Clearwater Paper Corporation, a premier supplier of quality tissue and bleached paperboard products, reported that it temporarily suspended certain manufacturing operations at its Lewiston, Idaho facility. An incident impacting the regional natural gas system has resulted in the disruption of natural gas deliveries to the mill and the surrounding areas. “We are focused on the safety of our employees and maintaining our assets while we wait for repairs on the gas pipeline to be completed,” said Arsen Kitch, president and chief executive officer. “We expect to resume the impacted operations in the coming days.”

Metsä Group donates nearly one million euros in total to six universities

Metsä Group has made donations of EUR 160,000 to Aalto University, LUT University, Tampere University, Åbo Akademi, University of Jyväskylä and University of Eastern Finland. Depending on the university, the donations will be allocated to the fields of technology, natural sciences or agriculture and forestry. “High-quality university research and education form the basis for the development of the forest industry as a whole. It’s very important for us to secure future competence,” says Ilkka Hämälä, President and CEO of Metsä Group. Earlier in December, Metsä Group donated a total of EUR 500,000 to its partner universities University of Helsinki and University of Oulu. The donations are part of the matched funding scheme, through which the Government supports donations made to universities by private foundations, companies and individuals. The matched funding scheme will run until the end of June 2022.

RYAM Engages Houlihan Lokey to Explore Sale of Paperboard and High-Yield Pulp Assets

Rayonier Advanced Materials Inc., the global leader in High Purity Cellulose, announced that it has engaged Houlihan Lokey as its financial advisor to explore the potential sale of its paperboard and high-yield pulp assets located at its Temiscaming site. This strategic move is aligned with RYAM's commitment to enhancing its operational and financial performance, optimizing its portfolio to align with its long-term growth strategy, and providing flexibility to pay down debt and reduce leverage. The engagement of Houlihan Lokey, a renowned global investment bank, underscores RYAM's dedication to a rigorous and diligent evaluation of its strategic options.
Back To Top
×Close search
Search