Published Dec 18, 2008 13.00.00 +2 GMT
Lee & Man Paper Co. has cancelled the order placed with Metso to supply the new PM 17 kraftliner board machine to their Hongmei mill in Guangdong province, China. The decision is based on the recent, significant changes in the market situation. The payments already received completely cover all of Metso’s costs and expenses for the project.
At the time of cancellation the project was in the engineering phase and no significant parts of the delivery had been manufactured yet. The total value of the order placed with Metso in September 2007 was approximately EUR 40 million.
Metso is a global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling and the pulp and paper industries. We have over 28,000 employees in more than 50 countries. www.metso.com
For more information, please contact: Markus Laitila, Senior Vice President, Projects and Process Technology, Paper business line, Metso Tel. +358 40 575 1204