Lee & Man plans to build a greenfield mill in Vietnam. The mill is to have containerboard capacity of 320,000 t/yr and pulp of 150,000 t/yr.
The company hopes to start operations by the end of 2008 or early 2009. Financing is to come from a recent share placement which raised US$190 million. Lee & Man also plans forestry operations in Vietnam.
Hong Kong-based Lee & Man Manufacturing is China’s second largest containerboard producer. The company plans to expand its operations in China from 1.6 million t/yr to almost 4 million t/yr by the end of 2008.