The story
The predecessor of Chenming paper, also known as Shouguang state owned paper mill, was established in 1958. The mill did not expand its production capacity until 30 years later. In 1988, The company experienced a change of management which was followed by their production reform in hope of expanding the company. In 1993, Chenming took a step further to transform itself from a state owned enterprise to corporation, offering its employees the opportunity to take ownership of the company. Inspired by the change, Chenming went into a rapid growth phase, buying out many heavily in debt paper mills around China and turned them around by bring in new management skills and advanced technology.
It is the 18th largest company in the paper sector in 2010, with a production of 3.350 million tons.
From Wikipedia’s article on Chenming Paper, shared under CC BY-SA 4.0.3