Portugal: Renova invests €40 million to increase production capacity
In order to increase the company’s paper production capacity, Renova is investing €40 million ($44 million) in a production facility for its factory in Torres Novas, Portugal
The investment is claimed to allow for a 50% increase in the production of paper products (napkins, facial tissues, paper kitchen towels, and toilet tissue) at the site.
In an interview with the Portuguese newspaper Expresso, Renova’s president Paulo Pereira da Silva also said that the company was investing in a factory in France, which is intended to supply the company’s main international markets, such as Spain (26%), France, and Belgium (17%). The new plant, located in Vichy, will start operating by the end of the year, according to Mr Silva.
Renova’s products are sold in more than 60 countries and also online, but half of the company’s sales are still reportedly accounted for by the Portuguese market.
The company reported turnover of €146 million ($163 million) in 2014.
Source: Portugal Global