Cartones II

completed

The project comprises financing of Cartones America’s (CAME) investment program and includes - acquisition of a 60% stake in Chilempack, Chile; - upgrade and expansion of its manufacturing facilities in Colombia, Venezuela, Ecuador, Chile and Peru; and - refinancing existing short-term debt.CAME''s operations are based on recycled paper and as such it encourages and supports the activities of recycled paper collector companies in Colombia, Venezuela, Ecuador, and Peru. CAME currently provides jobs to 731 people directly in its plants and about 8 800 indirectly, mostly in the recycled paper collection sector. Its operations include in Colombia:- a paper mill (Cartones America) located within the city Cali, - a corrugator plant (Litofan) also located within the city of Cali, - a corrugator plant (CORAME) located at 20 km from the city of Bogotá. In Peru, CAME''s Papelera del Sur subsidiary has the following:- a paper mill in the city of Chincha at approx 200 km from Lima, and - a corrugator plant in the city of Lurin, at 30 km from Lima. In Quito, Ecuador, it has a corrugator plant (CRANSA) and in Chile it has a corrugator plant in Peñaflor, near Santiago de Chile. In Valencia, Venezuela, it has a corrugator plant (Venezolana de Cartones Corrugados C.A. V.C.C.)