MADRID, 29 Sep. (EUROPA PRESS) -

Iberpapel has signed the definitive contract for the sale of its forest assets in Uruguay, a total of 11,280 hectares, for an amount of 57 million dollars (about 53.7 million euros), an operation with which it gives up 40% of its forest assets, the company reported.

In a statement to the National Securities Market Commission (CNMV), the company indicated that the operation has been closed after all the suspensive conditions to which it was subject had been met. Thus, these assets will pass to Winterbotham Trust.

Throughout 2023, the paper and energy group is making investments of 22.5 million euros in the Papelera Zicuñaga facilities in Hernani, to implement several initiatives that will improve the efficiency of its production and environmental processes.

Among the investment actions, the reform of the lime kiln stands out. This investment entails a significant environmental improvement and will mean significant savings in energy costs for raw materials, CO2 emissions and waste shipment to landfill.

Additionally, Iberpapel will replace the continuous paper quality measurement equipment and the control system of one of the paper machines and reform the electrical and mechanical drive of another. A new gas auxiliary fuel burning system will also be installed in the Boiler.

On the other hand, among other minor investments, the computer network architecture will be improved and the sauce preparation kitchen will be automated. With these investments, the strategic importance of the Zicuñaga plant in the sector is reinforced.