Nippon Paper to Increase Price for Newsprint, Shutting Down Two Paper Machines in Japan
Jan. 31, 2019 - Nippon Paper Industries Co., Ltd. announced that it will increase the price for newsprint by 100 Yen/ream, effective with deliveries as of April 1, 2019.
In a press release, Nippon paper Industries said, “In recent years, the demand for newsprint has continued to decline, but the Company is striving to ensure stable supply and quality of newsprint while implementing various cost-cutting measures.
"Under the Sixth Medium-Term Business Plan (FY2018 to FY2020), the Company will further consolidate production facilities to reduce fixed costs by shutting down the No. 8 paper production machine at the Kushiro Mill and the No. 6 paper production machine at the Hokkaido Mill (Yufutsu) [in Japan].
“However, the business environment of newsprint is increasingly severe. In addition to rising prices of waste paper and other raw materials and fuels, the rise in logistics costs has become unavoidable. Therefore, it will be extreme difficult to reproduce if the situation continues beyond the limits of our independent efforts to reduce costs. To secure business continuity and stable supply, the Company decided the revision of the product prices.”
Nippon Paper Industries produces coated and uncoated paper, including specialty grades, and paperboard. To learn more about Nippon Paper Industries, please visit: www.nipponpapergroup.com.
SOURCE: Nippon Paper Industries Co., Ltd.