Fábrica Nacional de Papel

repaid

Fanapel produces chemical-pulp paper for printing and writing, coated and uncoated paper, wrapping paper, conversion paper, and special paper, as well as notebooks, envelopes, and folders. The manufacturing plant is located in the town of Juan Lacaze, Colonia Department, 150 km from the city of Montevideo; it is the largest paper manufacturer and one of the largest private companies in the country. Fanapel provides 480 direct jobs and a large number of indirect jobs; it is the main source of employment and development in Juan Lacaze, which has 13,000 inhabitants.The funding to be provided by the IIC seeks to improve the company's debt ratio by replacing some short-term liabilities and to assist Fanapel in fulfilling its debt reduction commitment with Banco de la República Oriental del Uruguay.