MEXICO (Notifix). – Mexico’s Proteak has taken firm steps towards the consolidation of its forestry project, including an MDF production plant in Tabasco, Mexico. On July 18 it reached a definitive agreement to purchase the shares of Forestaciones Operativas de México, S.A. de C.V. ("FOMEX") from Grupo KUO, S.A.B. de CV. Grupo KUO and Proteak expect to close this transaction by August 30, 2013.
FOMEX is dedicated to the establishment and harvesting of eucalyptus in various states of the Mexican Republic. With this operation Proteak acquires the largest forest plantations in the country, certified under FSC standards (Forestry Stewardship Council), thus ensuring total supply of 100% sustainable wood for the MDF plant announced in the state of Tabasco with an installed capacity of 200,000 m3/year. The resources for these operations come from a capital increase through the issue of Company shares approved on the Extraordinary Shareholders Meeting of July 11th.
