Paper e-market planned

Paper e-market planned

SINGAPORE (DPA): Four Asian partners plan a new paper exchange
seeking to secure at least 25 percent of the region's pulp and
paper market and transact at least US$2 billion in business by
2002, it was reported on Monday.

Called ePaperAlliance, the partners include Asia Pulp and
Paper, part of Indonesian-based conglomerate, Sinar Mas, Itochu
Corp., Mitsubishi Corp. and Nissho Iwai Corp.

Matthew Pollard, managing director of the company to be
officially launched early next year, told The Business Times that
Asia represents the world's fastest paper-consuming market.

Last year it accounted for about 33 per cent of the world's
combined pulp, paper and wastepaper, or 623 tons, he said.

The venture, to be registered in the Cayman Islands, will be
launched early next year and owned by the partners, but opened to
as many as five others.

The paper exchange will link Asian buyers and sellers of all
grades of pulp and paper and comes with trade financing,
factoring, logistics and documentation, Pollard said.