12:12 AM EDT, 06/30/2021 (MT Newswires) -- Paper products company Q P Group (HKG:1412) subleased a plot of land in an industrial park in the Ha Nam province of Vietnam for the construction of its own production site.
Q P will pay 65.32 billion dong ($2.8 million) to sublease the 40,036-square-meter property for 48 years. Details of the lessor were not mentioned in the company's release on Monday.
With a manufacturing plant in Vietnam, the group aims to solve issues arising from the Sino-US trade tensions and perform end-to-end production of its principal products to its customers in the US. The transaction and the development of the land parcel will be financed using internal resources.