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Altri, a company that says "a European benchmark in the production of eucalyptus pulp and in forest management", already controls 100% of EDP Bioelectrica.
In a statement sent to the CMVM on Tuesday, the group chaired by Paulo Fernandes said that he has reached an agreement with EDP – Energias de Portugal to acquire directly and through its a subsidiary of Caima Indústria de Celulose (EDP Bioelectrical Corporation) (EDP Bioelectrica).
Thus, as a result of this agreement, Altri takes control of 100% of EDP Bioelectrica. The value of the transaction "raises to an estimated total of 55 million euros."
"The agreement is subject to prior notification to the Competition Authority, in accordance with the terms of its legal regime and, for this reason, conditioned upon the non-opposition decision of this entity, and it is estimated that it will be concluded during the second half of 2018, "explains Altri.
It is recalled that this activity comes a few days after the pulp and paper producer announced a rise in 77% in the first half compared to the same period in 2017. The result reached 73.8 million euros and the turnover reached 378.4 million euros in the first half of this year
What is EDP Bioelectrica and Why This Activity?
According to Altri, EDP Bioelectrica is "a benchmark player in the production market of 39, electricity from forest biomass ". n dead forest material and remains of little use and commercial value.
The EDP universe company "operates four factories in Portugal, in the course of execution the construction of a new plant whose startup is estimated for the first half"
"The global installed capacity of all EDP Bioelectrical plants, given the new plant, is about 100 megawatts (MW) ", and this activity" will allow Altri to continue its continuous improvement of the plant. integration between the biomass-producing forest sector and energy production from this renewable resource. "
Altri says that its long-standing priority is" improving the management and clean-up of forests ".
Celtejo, one of the largest Altri pulp mills in Vila Velha de Ródão, has been accused by several environmental associations of being one of the biggest polluters of the Tagus, causes serious environmental damage. The company has always refuted the allegations.
