TOKYO -- Japanese paper maker Oji Holdings will spend some 6 billion yen ($54.8 million) to boost cardboard box production in Southeast Asia, where economic growth has increased shipments of home appliances, food and other products.
The company will spend roughly 3 billion yen to build a plant in Vietnam's Ha Nam Province, south of Hanoi. The facility, slated to come online next July, will manufacture cardboard boxes at a pace of about 50 million sq. meters a year, increasing Oji's total capacity in the country by roughly 30%. The company currently produces 150 million sq. meters annually at its four existing plants there.