Finsa acquires 5.2% stake in Proteak
22 June 2015Leading Spanish board maker Financiera Maderera SA (Finsa), which recently entered into partnership with the Mexican MDF start-up company Proteak, has now acquired a 5.2% stake in its partner.
Since April, managers from the Santiago de Compostella, Spain-based firm have joined Proteak officials supervising the Mexican firm's project to launch a green field 280,000m3/year MDF plant at Huimanguillo, Tabasco state. The mill is scheduled to start-up in August this year.
"...Santiago Garcia Valiño, our ceo is very excited to be part of this project (which) we consider the most important in the sector in Mexico and Central America," commented Finsa president Domingo Aller.
Finsa's ceo, who has joined the Proteak board of directors as its 11th member, has been a Finsa director since 2004 and its president for the past three years.
Meanwhile, Mexico City-based Proteak has declared a capital increase of around US$24.3m resulting from the issue of 25m ordinary participation certificate (OPC) shares which saw a 100% subscription shareholder take up. The funds will be invested in the MDF plant project.
