Zhanjiang Chenming Paper Pulp Co, a wholly owned subsidiary of Shandong Chenming Paper Holdings (000488.SZ), said Thursday it had signed a US$285.84 million (194 million euros) contract to buy paper making machines from a subsidiary of Finland’s industry giant Metso Paper Inc, the Shanghai Securities News reported. The money will be funded through an additional offering of H-shares and bank loans. The deal will be settled in euros to minimise risk from foreign exchange exposure. The devices will be delivered by October 2010 and will be used by Zhanjiang Paper Pulp in a new 700,000 ton pulp plant.