Chinese mill group Nine Dragons Paper has announced an agreement to buy the remaining 60% of shares in cardboard box manufacturer Turbo Best.
Nine Dragons already owned 40% of the company, and will pay up to HK$100,000,000 (£9.4 million) for the remaining shares.
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Turbo Best is registered in Hong Kong, but has a subsidiary in China in Fjuian province, where it has a production line for 2.2 metre cardboard with a production capacity of 154.8 million square metres.
It will be fully integrated into Nine Dragons and will increase its capacity to produce corrugated cardboard products and carton boxes.
