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Brazil: Klabin sells off assets to reduce debts.
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South American Business Information
- Article date:
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March 23, 2001
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Copyright informationCOPYRIGHT 2001 COMTEX News Network, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Brazil, Mar 23, 2001
IKPC (Industrias Klabin de Papel e Celulose) is to reduce by 10% its debts during 2001. With debts of R$2.2bil, the company bets on the EBITA and on the sale of some assets to reach its target. The EBITDA might represent R$150mil and the remainder will proceed from the sale of assets. Klabin already sold 9,700 hectare of forests and 13,000 hectare of land, both sited in Rio Grande do Sul, to the US Boise Cascade for R$77.4mil. Boise will install a wood mill plant which production will be exported to its US main office, according to market sources. Duratex acquired ...
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