International Paper India, on Monday, inaugurated state-of-the-art machinery at its Rajahmundry-based Andhra Pradesh Paper Mills Limited, which will allow the plant to increase the conversion capacity of branded copier paper. International Paper, a global company in packaging and paper, had acquired a 75 per cent stake in Andhra Pradesh Paper Mills Limited two years ago.
Addressing a press conference here, William Michael Amick Jr., President, IP India and Chairman, APPM, said the new automated sheeting line converts paper reels into A4, A3 and foolscap (FS) size products. With the new machinery, the capacity has been increased from 25,000 MT per year to 90,000 MT.
He said the company had so far invested $500 million, including the acquisition of a stake in APPM and was quite optimistic about the growth opportunities in India, especially in the long-term.