Chung Hwa Pulp aims to increase the price of products

The Company will increase the cost of its products due to increased production material costs

Paper maker Chung Hwa Pulp has announced plans to raise product prices by 5 percent to 10 percent to reflect rising material costs, according to the Taipei Times.

A spokesman for the company said "Price increases were mainly due to higher material costs. In January, the price of waste, the most important material to generate pulp, rose almost 20 percent from TWD 225 per ton to TWD 270 per ton ".

The Company added that it plans to allocate between TWD 1 billion and TDW 1.5 billion for investments during this year. The budget should be used to improve manufacturing processes at the company's four factories to meet the highest environmental standards in Taiwan and China.

Chung Hwa Pulp said it did not intend to expand capacity at its four factories in Taiwan and Guangdong province, which have combined annual capacity of 400,000 tons of pulp and 600,000 tons of paper products.