Brazil’s Suzano to buy controlling stake in Facepa tissue paper factory

Brazil’s Suzano Papel e Celulose closed a deal to acquire a majority stake in Amazonian paper factory Facepa for $95 million.

Suzano said it had agreed to buy 92.84 percent of total shares and 99.99 percent of common shares in the company, which manufactures paper towels, napkins, diapers and tissue in factories in Belem and Fortaleza with total capacity of 50,000 tonnes per year.