The Board of Directors of Companhia Providência Indústria e Comércio, a leader in the manufacture and sale of nonwovens in Brazil with a significant presence in the Americas and operating globally, wishes to inform the market and its shareholders that:
At a meeting held on November 22nd 2010, the Board of Directors approved investments of up to US$ 120 million incorporating two production lines, as well as other related assets, one of which to be installed in Brazil and the other in the United States, each one with an installed capacity of 20 thousand tons of nonwovens destined for markets manufacturing disposable hygienic and medical disposable end-uses products. The production lines are expected to go into operation in the first half of 2012, resulting in an increase of 40% in the company's total installed capacity.The Board of Directors of Companhia Providência Indústria e Comércio, a leader in the manufacture and sale of nonwovens in Brazil with a significant presence in the Americas and operating globally, #
In addition, a memorandum of understanding was signed with an option agreement for purchasing a further two production lines from the supplier, Reifenhäuser Reicofil GmbH & Co. KG.
The new investments are in line with market demand growth and follow our strategic plans, as they are designed to increase the production capacity of the plants in Brazil and the United States, with consequent savings in logistical costs and closer proximity to the major nonwovens consumer markets., and in line with growth in demand and our strategic plan.
Companhia Providência Indústria e Comércio
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