NEWSPRINT PRICES TO REMAIN UNDER PRESSURE, SAYS CRISIL

Article Abstract:

The Credit Rating Information Services of India Ltd (Crisil) in a report has stated that the newsprint prices will not increase as supply is more than demand. Recently paper manufacturers increased the prices of newsprint and writing paper (PWP). India has surplus capacity since 1996 and exports have dwindled due to South East Asia crisis. The imports have also increased since 1996 as the international prices of PWP had dropped considerably. The producers and publishers have ended up with huge inventories. The domestic PWP producers had to cut down their prices by more than a third compared to prices in 1996. The imports have decreased due to higher international prices and rupee depreciation. With the commissioning of 120,000 tonnes per annum capacity by ITC Bhadrachalam, the paperboard segment is tilted to oversupply position. (rk)

Consumer prices, Credit Rating Information Services of India Ltd.

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TNPL PLANS TO GO IN FOR BUYBACK

Article Abstract:

Tamilnadu Newsprint and Papers Ltd has decided to take approval from shareholders to buyback its own shares. Buyback will increase the value for shareholders but the company has to implement the condition laid down by the World Bank on giving it a $75 million term loan. The World Bank has stipulated that the state government should reduce its stake in the company to 26 percent from 35 percent now. IDBI holds a 35 percent stake in the company's Rs68.76 crore equity. (khr)

Comment:

Seeks permission of shareholders to buyback shares

Acquisitions & mergers, Paper & Allied Products, Paper Manufacturing, Paper industry

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TNPL TO GIVE TECHNICAL AID FOR EGYPTIAN PROJECT

Article Abstract:

Tamilnadu Newsprint and Papers Ltd (TNPL) has decided to give technical assistance to a 1.2 million tonnes per annum newsprint and writing paper project in Egypt. The $350 million project at Luxor is being promoted by Quena Newsprint and Paper Company. The project is scheduled to commence production in 2000 AD. TNPL will send its technical experts to Egypt to oversee the project and also provide training to 20 technical staff for two months for a consideration of $3 lakh. (khr)

Comment:

Tamilnadu Newsprint & Papers to give technical aid to 1.2 mil tpa newsprint & writing paper project in Egypt to this paper firm

Strategic alliances, Egypt, Quena Newsprint and Paper Co.

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