North China paper product manufacturer and distributor IT Tech Packaging has extended its partnership with the company’s pulp paper supplier Asia Symbol.
According to the agreement, the two companies will co-operate on technology and enterprise supply chain.
The new agreement will focus on enabling the partners to regularly exchange technology.
ITP will be added into Asia Symbol’s supply chain traceability system to ensure ‘products’ quality and environmental requirements’.
IT Tech Packaging chairman and chief executive officer Zhenyong Liu said: “We believe the partnership with Asia Symbol, which has world-leading technologies of pulp and paper manufacturing, will not only benefit the sustained supply of pulp paper as raw materials to our tissue paper products but also enhance our technologies and product quality.”
IT Tech Packaging noted that its wholly owned subsidiary Hebei Tengsheng Paper is entering an agreement to acquire the pulp paper from Asia Symbol. Tengsheng specialises in producing and distributing tissue paper.
In July this year, IT Tech Packaging signed definitive agreement to acquire 100% equity of Tengsheng Paper.
Established in 1996, IT Tech Packaging uses recycled paper as a raw material to manufacture products such as corrugating medium, offset printing and tissue papers.
Founded in China in 2005, Asia Symbol uses responsibly sourced renewable fibre to produce pulp and paper.