Nippon and DNAC have agreed to sell their 50% interest in Daishowa-Marubeni International Ltd. (“DMI”), to Mercer International Inc.
October 8, 2018
Nippon Paper Industries Co., Ltd. and Daishowa North America Corporation (“DNAC”), a wholly owned subsidiary of the Company, announced that they have agreed to sell their 50% interest in Daishowa-Marubeni International Ltd. (“DMI”), to Mercer International Inc.
In 1969, Nippon Paper Industries and Marubeni Corporation established DMI as a joint venture in British Columbia, Canada, in order to produce and sell market pulp, which is used globally as raw material for paper products. DMI operates through two mills in British Columbia and Alberta and sells pulp globally. Since the fifth medium-term business plan (2015-2017), Nippon Paper Industries has been conducting a strategic review of its assets and as a result, Nippon Paper Industries has decided to sell its interests in DMI.
Nippon Paper Industries Co., Ltd. is one of the top 10 pulp and paper companies in the world. Founded in 1949, the company owns more than 160 group companies and 180 thousand hectares of private timberlands.