Lee & Man Paper Co. has cancelled the order placed with Metso to supply the new PM 17 kraftliner board machine to their Hongmei mill in Guangdong province, China. The decision is based on the recent, significant changes in the market situation. The payments already received completely cover all of Metso’s costs and expenses for the project.
At the time of cancellation the project was in the engineering phase and no significant parts of the delivery had been manufactured yet. The total value of the order placed with Metso in September 2007 was approximately EUR 40 million.
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