Sojitz has acquired 95% of issued common shares in Saigon Paper, one of Vietnam’s biggest household paper and industrial paper products manufacturers. Financial terms were not disclosed. The acquisition of Saigon Paper enables Sojitz to enter in the Vietnamese paper market quickly, capitalizing​ on the fast-rising demand for industrial paper in the country. Saigon Paper owns two factories, My Xuan 1 and My Xuan 2 located in My Xuan A Industrial Park, Tan Thanh District, Ba Ria-Vung Tau. My Xuan 2 is one of the largest paper mills in the country.