Thursday, October 27, 2016

Navigator guarantees of access to wood to invest 200 million – Jornal de Negócios – Portugal

The Navigator Company, a designation adopted this year by the Portucel, still has “questions to clarify” to decide to proceed with the investment of 121 million euros in the Cacia mill, which has announced that in 2015.

the presentation of The results of the third quarter, the group recalls that the decision to proceed with the project of construction of a production line of tissue paper (toilet paper, napkins, or paper tissues) and its transformation into the final product was conditioned on the achievement of a series of factors.

the Second means, in the case of obtaining a package of fiscal and financial incentives, “at this time already completed”.

however, as he adds, “there are still some issues to be clarified regarding the conditioning of the market as well as the possible restrictions at the level of access to the wood”.

under the agreement to be that the HP came with the Greens for a solution developed by the government, took the written commitment of halting “the expansion of the area of the eucalyptus, in particular through the repeal of the law that liberalizes the planting of eucalyptus trees, creating a new legal regime”. However, this legislation has not yet been revoked.

last August, the Navigator said you want to make a final decision until the end of October for investment in Cacia, which would allow the group to increase its total production capacity to 130 thousand tons per year.

At the time, the group has also announced that it was developing studies in pre-engineering with a view to increase capacity of the folder at the factory in Figueira da Foz, in order to achieve a capacity of 650 thousand tons. Referring, then, that the preliminary studies are well advanced, but limits this investment to check a set of assumptions of the nature of the economic and financial.

the presentation of The results of the third quarter, the Navigator refers to the studies of pre-engineering has been completed, the “completing favorably for the feasibility of this option.

This project has a value of overall investment estimated at approximately 82 million euros and aims at a capacity increase of 70 thousand tons per year, for a total capacity of 650 thousand tons of bleached eucalyptus pulp (BEKP.

“however, the progress of this investment is conditioned upon verification assumptions additional, in particular relating to the availability and access to raw materials”.

In the first nine months of the year, the group recorded an increase in the average cost of acquisition of timber.
According to the press release, “despite registering an improvement of the specific consumption, increasing the use of imported wood and the consequent deterioration of the mix of supply has aggravated the overall cost of the acquisition.

For the Navigator, the import of wood iberian and non-iberian continues to be needed to fill the gaps in the domestic market, with the forestry sector was also affected by the fires that occurred this Summer.


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