BRAZIL – Duratex has confirmed investments in the construction of a new industrial unit for wood panel production in the state of Alagoas, which is expected to start operations by 2022 at the latest.

The industrial investment project, which began with Caetex (formed as a joint venture between Caeté Agroindustrial and Duratex in 2014) was approved during by the State Council for Economic and Social Development (Conedes). With this approval, the company will have fiscal incentives foreseen in the Integrated Development Program (Prodesin) as it installs another industry in the state of Alagoas in Brazil. With an investment of BRR 1.1 billion (USD 345 million) and a generation of 460 direct jobs, the arrival of Duratex represents the economic diversification of Alagoas, opening doors for the consolidation of new productive chains in the state. The Governor Renan Filho and the Secretary of State for Economic Development and Tourism, Helder Lima, signed the concession of tax incentives for the Duratex plant.