Companhia Providencia has reported that sales volumes reached 23,100 tons in the first quarter, representing a growth of 15.5% in volume. At the same time, sales increased 21% to R$139.4 million and profits increased nearly 19% to R$42.9 million.
The company should continue to increase sales volumes as its second line in Pouso Alegre, Brazil, comes onstream this summer, adding 20,000 tons of capacity. Beyond that, the installation of a second line in Statesville, NC, is running on schedule to be complete during the fourth quarter. This investment will also add 20,000 tons capacity, bringing the company’s total global capacity to 140,000 tons by the end of this year.