Eucatex foresees investing US$ 78 million in the year
Valor Econômico
After just coming out of a process of judicial recovery, Eucatex, controlled by the Maluf family and one of the largest national manufacturers of wood panels, will continue its expansion plan in 2010, when the investments in the operation should get to R$ 140 million (US$ 78 million). From that amount, R$ 80 million (US$ 44.4 million) will be invested in the new plant of thin boards, known as T-HDF (Thin - High Density Fiberboard), in Salto (SP), and another R$ 30 million (US$ 16.7 million) will be intended for the forest basis. The new Eucatex unit should be ready in September, with a total investment of nearly R$ 250 million (US$ 139 million).
According to the Executive Vice President and Investor Relations Officer of Eucatex, José Antonio Goulart de Carvalho, when in full operation, the new plant may add up to R$ 250 million (US$ 139 million) a year to the gross earnings, which was of R$ 829.2 million (US$ 420.9 million) in 2009, and up to R$ 80 million (US$ 44.4 million) to the cash generation of the company. Besides, the unit should show a return superior to other operations with an Ebitda margin near 50%. 50% of the funds invested in the manufacturing plant came from the cash of the company and the other 50% were financed by Banco Bradesco and Banco do Brasil (BB) banks.
According to Executive, last year the sales in volume of the fiberboard division remained stable compared to 2008, but the earnings fell 9% due to the lower prices - in the MDP division, the volume increased 1% and the earnings fell 7% for the same reason. "There has already been a recovery in the prices and we are now considering the possibility of a new adjustment", he said. Besides continuing with the expansion plan, the company plans on migrating from the traditional BM&FBovespa market, where its shares are listed, to Level I. "We are already talking to the stock exchange and that should take place still in the first half" he says.