JK Paper ended its joint venture with Japanese partner, Oji Holdings Corporation. JK sold its stake in the joint-venture (JV) firm, Oji JK Packaging, to Oji Holdings, thereby ending the JV. JK Paper had 20% shares in the JV, while Oji Holdings held the majority stake with 60% share. The balance 20% share are with Japan-based Marubeni Corporation.
Oji JK Packaging is based in Neemrana, Haryana, where the company manufactures and sells corrugated boxes, corrugated sheet boards, paper pallets, etc. Shares of JK Paper today closed marginally higher by 0.16% at Rs. 95 on BSE. “The company has sold the shares held by it in Oji JK Packaging to Oji Holdings Corporation, Japan, and has ceased to be a party to the aforesaid joint venture and the joint venture agreement inter alios with Oji JK Packaging,” JK paper said in a BSE notification.
Oji JK Packaging has one of the most modern and up-to-date plants in northern India for providing a range of corrugated packaging products like corrugated boxes, sheets and other products like pallets and cap sleeve bottoms.