Chile CMPC shareholders OK $500 mln capital increase

SANTIAGO Thu Jan 24, 2013 9:39am EST

SANTIAGO Jan 24 (Reuters) - Shareholders of Chilean forestry and paper company CMPC on Thursday approved a $500 million capital increase intended to help fund the company's planned expansion of its Guaiba plant in Brazil's Rio Grande Do Sul state.

The company expects to see its wood pulp output jump to 4.1 million tonnes per year after the expanded Brazilian plant starts operating in the first quarter of 2015.

The capital increase was originally set for up to $750 million.