Brazil'S Nonwoven Leader Takes An Ambitious Investment Plan.

2010/12/1 9:48:00 68

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Companhia Providncia Indstria e Comrcio is Brazil.

nonwovens

Production and marketing

Front runner

Having an important position in the Americas and the world, the board of Directors hereby inform the market and its shareholders:

At the meeting held in November 22, 2010,

Board of directors

We authorized the investment of US $120 million to develop two production lines and other related assets.

One will be installed in Brazil and the other in the United States. The capacity of each production line is 20 thousand tons of non manufactured fabrics, which are used for the production of disposable hygiene products and disposable medical products.

The two production lines are expected to go into operation in the first half of 2012, and the company's total production capacity will increase by 40%.

In addition, the company is signing a memorandum of understanding to plan to buy two production lines from suppliers Reifenhuser Reicofil GmbH & Co. KG.

The new investment project is in line with the company's strategic plan, which aims to increase the factory capacity of Brazil and the United States. As two countries are adjacent, it will save the logistics cost of the two main non manufacturing consumer market, which is consistent with the growing demand and the company's strategic plan.