Orient Paper, Inc. Announces Temporary Suspension of Production Due to Mandated Restriction on Natural Gas Supply

Orient Paper, Inc. (NYSE MKT: ONP) (“Orient Paper” or the “Company”), a leading manufacturer and distributor of diversified paper products in North China, today announced that it will temporarily suspend all of its production lines due to mandated restriction/suspension of natural gas supply (the “Restriction”) for all natural gas consumption industries, including the paper manufacturing industry in order to secure adequate natural gas to households uses in urban and rural areas in Hebei Province. The Restriction is in accordance with the second highest alert over supply shock of natural gas (the “Orange Alert”) which has been in place since November 27, 2017. Multiple cities in the province including Baoding and Xingtai where the Company’s facilities located have successively issued notices about the restriction of natural gas supply to their industrial users. The suspension is expected to last into February, 2018, when the Company expects the Restriction to be eased. The Company is going to implement equipment maintenance during the temporary suspension of production. The temporary suspension of production will impact the Company’s current corrugating medium paper, offset printing paper and tissue paper operations.
https://www.prnewswire.com/news-releases/orient-paper-inc-announces-temporary-suspension-of-production-due-to-mandated-restriction-on-natural-gas-supply-300587327.html

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