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Marubeni to start containerboard production in Vietnam
Marubeni Corporation announces the start of a Containerboard Manufacturing and Packaging Material Sales Business, wholly owned by Marubeni, in Vietnam where the packaging market is currently experiencing growth.
Marubeni has established, “Kraft of Asia Paperboard & Packaging Co., Ltd.”, a containerboard manufacturing and packaging materials sales company, in BaRia-VungTau Province, Vietnam. Having already obtained all necessary permits, construction will begin immediately. Marubeni targets the second half of FY2020 for the commencement of commercial operation with an annual full capacity of 350,000 tons.
Over the years, Marubeni has accumulated knowledge of the overseas containerboard business, in addition to management and operation experience through Koa Kogyo Co., Ltd. (79.95% owned by Marubeni) and Fukuyama Paper Co., Ltd. (55% owned by Marubeni) in Japan. Utilizing the production technology and know-how of Koa Kogyo, and Marubeni's own sales network, Marubeni aims to proactively expand its containerboard business in the growing Vietnam market.
Worldwide containerboard demand is expected to increase continuously as a result of economic expansion and e-commerce trade growth. In particular, domestic containerboard demand in Vietnam (which at over 93 million has the 3rd largest population of all ASEAN countries) is forecasted to grow significantly in accordance with the steady increase of national income. Moreover, containerboard demand in Vietnam is increasing at more than 10% annual growth rate, which exceeds that of Thailand, Indonesia and other countries, and it is further expected that Vietnam will be the largest containerboard consuming ASEAN country in the first half of the 2020's, due to steady economic growth propelled by attracting a large number of foreign capital export industries.
Marubeni looks forward to supporting industrial development in Vietnam and coexisting with the local society by producing containerboard with resource saving operations and energy saving technology acquired in Japan.