MEXICO CITY - Proteak Uno signed a MXN100 million loan with Banco Multiva to support its fast-growing Tecnotabla has had in the market. Tecnotabla is Proteak's wood panel business unit.
"The loan is a statement of support to the agricultural and forestry industry, especially to Proteak," said Banco Multiva's Managing Director, Carlos Soto Manzo. "Proteak has shown that the forestry activity in Mexico is profitable and a future-oriented business."
Proteak dedicated its MDF plant Tecnotabla in Huimanguillo, Tabasco, with the President of the United Mexican States, Enrique Peña Nieto
On September 23rd, Proteak dedicated its MDF plant Tecnotabla in Huimanguillo, Tabasco, with the President of the United Mexican States, Enrique Peña Nieto, inaugurating the operation.
With an investment of $200 million, Proteak says it has developed the most important forestry industrial project in Mexican history, and the main non-oil investment of private equity in the southeast of the country. Proteak says the investment generates more than 1,500 direct jobs, Proteak aims to develop the local furniture industry with a value of more than $1 billion through import substitution. It is said to be the first MDF plant financed by Mexican equity with a 100 percent sustainable approach.
"With this investment, we proved how a group of Mexican entrepreneurs, with great effort and commitment to Mexico, have achieved extraordinary results," said Hector Bonilla, founder and chairman of Proteak's board. The MDF plant Tecnotabla has a production capacity of 280,000 cubic meters and is 100 percent sustainable thanks to the supply of wood from its 10,000 hectares of eucalyptus plantations. The plant is equipped with the latest German technology which integrates energy efficient cogeneration and manufacture of resin, ensuring the highest quality standards.
The production is expected to ramp up. Last quarter 40,000 cubic meters of MDF were produced. During the quarter MDF boards with different thicknesses (3mm to 28mm) were manufactured with the objective of expanding the product portfolio. It is important to mention that during the effective production days, the plant reached 100 percent of the nominal capacity, ensuring the growth curve planned for the following years.