July 23, 2018 / 11:02 PM / 4 months ago

Board of Brazil's Duratex approves 94 mln real investment in tile unit

SAO PAULO, July 23 (Reuters) - The board of Brazilian wood panel manufacturer Duratex SA approved an investment of 94 million reais ($24.86 million) by 2019 to increase production capacity at its Ceusa brand ceramic tile unit, the company said on Monday.

The funds will be used to modernize existing lines and install another, increasing Ceusa’s productive capacity by 83 percent to 11 million square meters per year, it said in a securities filing. ($1 = 3.7819 reais) (Reporting by Gabriela Mello)

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