Friday, February 10, 2017

Navigator will invest 206 million euros at the plants in Cacia and Figueira da Foz until 2018 – RTP

“The decision to move forward with the construction of the new line [in the Cacia mill] was conditioned to the achievement of a set of factors, namely the provision of a package of fiscal and financial incentives, that, at this time, are already finalised,” says the company in a press release published today by the Commission for the Securities Market (CMVM).

The intention of investing in the Cacia mill was reported by the paper group, there is little more than a year, at the end of 2015, when he made known his project Cacia construction of a production line of paper `tissue` (used in toilet paper and paper tissues) and its transformation into the final product, with a nominal capacity of 70 thousand tons per year.

Now, the Navigator said to have gathered “the whole of the conditions required” to achieve this investment of 121 million euros, with the signature of the funding contracts, have advanced with the development of the project.

“the estimated time for The completion of new lines of production and transformation of `tissue` is the second half of 2018, and provided that the disbursements on this investment are apportioned between 2017 and 2018,” explains the company.

To achieve during the first half of 2018 for the project to increase the capacity of the industrial town of Figueira da Foz, 70 thousand tons, 650 thousand tons of pulp bleached eucalyptus (PULP) per year, the Navigator will invest 85 million euros, but has already applied to financial and tax incentives.

In the statement, the Navigator admits to being “concerned” with the intention of the Government to prohibit the planting of new areas of eucalyptus and only allow plantations to new areas by trade with the plantations already existing.

The company announced today that it has closed 2016 with an increase of profit at 10.7% to 217,5 million euros, against 196,4 million euros in 2015.

In a statement to CMVM, the company realized a reduction of 3.1% in the volume of business, in the face of 2015, and results before taxes, interest, depreciation and amortisation of the total sales of the company (EBITDA) of 397,4 million euros, up from 390 million euros in 2015.


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