Chile CMPC board OKs $2.1 bln expansion of Brazil Guaiba plant

SANTIAGO Thu Dec 6, 2012 10:17am EST

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SANTIAGO Dec 6 (Reuters) - Chile forestry and paper company CMPC said on Thursday its board had approved a $2.1 billion expansion of its Guaiba plant in Brazil, and is planning a capital increase and bond issue to fund the investment.

The group's wood pulp output will jump to 4.1 million tonnes per year after the expanded Brazilian plant starts operating in the first quarter of 2015, making it one of the world's leading wood pulp producers.