Asia Pacific Resources International Limited (APRIL) has signed a MOU with Papier Union and Roxcel worth $50m.
Indonesia's pulp and paper manufacturer has signed a memorandum of understanding (MOU) with two European paper trading companies. The MOU is meant to strengthen APRIL's cooperation with international partners and expand the company's position in Europe.
According to APRIL, the agreement has a total value of $50m and was signed with the German Papier Union, a member of the Inapa Group, and Austria's Roxcel. The MOU was signed on the occasion of president Widodo's trip to Europe from 18 to 22 April. The head of Indonesia's government was accompanied by a business delegation.
At the site in Pangkala Kerinci in Indonesia's Riau Province the company produces 2.8 milion tpy of pulp and 850,000 tpy of uncoated woodfree paper, according to the company's website. APRIL's Chinese subsidiary Asia Symbol runs two industrial sites producing up to 1.8 million tpy of pulp, 450,000 tpy of uncoated woodfree paper and some 470,000 tpy of ivory board.