Vinda signed a syndicated loan agreement to fund its 40,000 tons of capacity enhancement project on Dec 27th,2005 in Xinhui.
The syndicated loan will be provided by ICBC (Guangdong, CMB (Guangzhou) and CIB (Guangzhou). The money will be used to build additional 40,000 tons of capacity for high-end tissue products. Chairman of Vinda Li Chao Wang, Director Yu Yifang, Dong Yiping and representatives from the banks mentioned above attended the signing ceremony. Chairman Li and Guangdong Branch Vice Manager Hu Ye addressed the ceremony. Both expressed goodwill for long-term cooperation and win-win results.
Vinda’s financial partners’ support has always been essential for our success. The agreement this time demonstrates our partners’ confidence in Vinda’s management and financial position.