MEXICO – Proteak announced that its industrial MDF board and forest project, the country’s largest, continues to move forward in a timely manner.

Among other achievements, during the first quarter Finnfund deposited USD 2.4mm to complete its investment agreement of USD 10MM as informed by Notifix on October 2014. Also in the first quarter of the year a cooperation agreement was finalized with Spain’s FINSA, which includes technology transfer and joint operation of the MDF plant. For this purpose FINSA’s Planning Director is already on site. Also as part of the agreement, Proteak started marketing FINSA products in central Mexico.

The MDF plant’s main building in Huimanguillo is 95% completed and the turnkey supplier Dieffenbacher has already begun installing equipment. Projected to be operational in the second half of this year, the USD 200 million investment will have capacity to produce 280.000 m3 of MDF per year.