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Lee & Man to Increase Paper Output by 50%

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Lee & Man Paper Manufacturing Co., China, plans to increase its annual paper output capacity by more than 50% during the next two years. The company plans to build five production lines in Jiujiang, Jiangxi Province, to increase its capacity from 4.55 million tons to 6.95 million tons by June of 2012.

A production boost of that magnitude won't come cheap. The company has allocated HK$4.4 billion ($657 million) in capital expenditures for the next two fiscal years. By comparison, it spent HK$700 million ($104.5 million) during the year that ended in June.