Net revenue reached R$151 million in the quarter, 19.1% higher than the same period in 2011, largely a reflection of the increase in sales volumes, the company says. Providência also reported a Gross Profit of R$42.9 million in the quarter, R$10.7 million more than for the same period in 2011, corresponding to a growth of 33%.
In June the company added a second production line at the Pouso Alegre facility in the state of Minas Gerais. This line adds a further 20,000 tons to the company’s overall capacity and will be used principally to supply the disposable hygienic products market.
Work on the project for expanding the Statesville, NC, facility in the U.S. is running on schedule, the company says, and the plant is scheduled to begin production during the course of the fourth quarter of 2012. The new production line—the company’s thirteenth—will ramp up annual capacity by 20,000 tons, doubling the company’s output in the U.S..
By the end of 2012, Providência’s capacity will have reached 140,000 tons per year, reaffirming the company’s ranking as one of the major players in the nonwovens industry.