October 29, 2019 / 3:07 PM / 19 days ago

Brazilian paper producer Klabin to invest 3.8 bln reais in Puma 2 next year - executives

BRASILIA, Oct 29 (Reuters) - Brazil pulpmaker Klabin SA will invest 3.8 billion reais ($950 million) in its ‘Puma 2’ containerboard expansion project next year, and will end 2019 with lower stocks of cellulose than it did last year, executives said on Tuesday.

Speaking on an analyst conference call following third quarter results on Monday, executives also said short fiber cellulose prices should stabilize in the coming months, and that its cellulose production plant will be closed for maintenance over 11 days in October 2020.

$1 = 4.00 reais Reporting by Alberto Alerigi Writing by Jamie McGeever

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