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Pulp, Paper Firm in Thailand Plans 12 Billion Baht Expansion.

Bangkok Post (Bangkok, Thailand)

| January 03, 2002 | COPYRIGHT 2002 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Jan. 3--Phoenix Pulp and Paper Plc plans to invest up to 12 billion baht this year in a new factory to more than double its production capacity.

The plan will likely be implemented, regardless of the outcome of the tender offer for the company's shares by Siam Pulp and Paper Plc (SPP). The offer expires today.

SPP recently acquired a 24.98 percent stake in Phoenix from India's Ballarpur Group. It is offering 48 baht per share to existing Phoenix shareholders for the remaining shares. The Siam Cement Group's paper production flagship hopes to obtain at least a 50 percent stake to gain management control.

The new investment by Phoenix, which ...

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Source: HighBeam Research, Pulp, Paper Firm in Thailand Plans 12 Billion Baht Expansion.