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U.S. line benefits Providencia’s results

Companhia Providencia reported its sales volumes were 22,700 tons during the third quarter, reflecting a 15.3% increase from the prior year.

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By: Karen McIntyre

Editor, Nonwovens Industry

This increase was due largely to the start-up of the company’s first U.S. production line, which has already contributed 5530 tons in sales in the first nine months of the year and generated a positive result in the third quarter. Revenues reached R$142.8 million during the same period, 22.4% more than the third quarter of last year.

At a meeting of the board of directors on September 20, approval was given to the full prepayment of 15,000 of the company’s debentures trading in the market, that took place on October 31, 2011. The balance of the principal totaled R$100.5 million.

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