NEW DELHI: JK paper NSE 1.91 % today said that it has exited from its JV, Oji JK Packaging Private Ltd, by selling its share to Japan-based Oji Holdings Corporation.
"The company has sold the shares held by it in Oji JK Packaging Private Ltd to Oji Holdings Corporation, Japan and has ceased to be a party to the aforesaid joint venture and the Joint Venture Agreement inter alios with Oji JK Packaging Private Limited," JK paper said in a BSE notification.
JK Paper had 20 per cent share in the JV, while rest 60 per cent was with Oji Holdings Corporation and 20 per cent with Japan-based Marubeni Corporation.
Based at Neemrana, the JV was manufacturing and selling corrugated box, corrugated sheet board, paper pallets etc.