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Asian paper companies merge

Mitsubishi Paper Mills and Chuetsu Pulp & Paper Co. have decided merge as of October 1st in order to expand their b…

Mitsubishi Paper Mills and Chuetsu Pulp & Paper Co. have decided merge as of October 1st in order to expand their business basis amid severe competition in emerging markets in east Asia. Chuetsu Pulp will be the surviving entity. The merger will cut 5 billion yen from annual costs for the two companies by streamlining their sales and distribution systems and rationalizing other areas, the two companies said.