As part of the same plan, the company has received a further 3 million euros in guarantees from the Basque Government
Papelera de Amaroz has specialised in paper manufacturing since the late nineteenth century
The company has embarked on an ambitious project for extending its production capacity, which will rise from 40,000 to 80,000 tons a year
The Sociedad Gestión de Capital Riesgo del País Vasco (SGECR) has granted a 3 million euro loan to the company Papelera de Amaroz. Within the framework of the same plan, the firm has also received a guarantee for a further three million euros through the ‘Avales de Choque’ (emergency guarantee) programme approved by the Basque Government Department of Industry, Innovation, Trade and Tourism.
Papelera de Amaroz is a Guipúzcoa-based company that has specialised in paper manufacturing since the late nineteenth century. It is currently involved in an ambitious project for doubling its production capacity. In figures, the company currently manufacturers 40,000 tons of paper a year and anticipates increasing this to 80,000 tons a year when it transfers its facilities from Tolosa to a factory in Legorreta.
The volume of investment for this purpose totals 21 million euros, 7.5 million of which was provided by the company itself through capital increases, and the sale of the company’s premises in Tolosa raised a further 13 million euros.
The Papelera de Amaroz workers provide 41% of the company’s capital.
Capital Riesgo is a company belonging to SPRI, which forms part of the Basque Government Department of Industry, Innovation, Trade and Tourism. The measure is undertaken within the framework of the ‘+Euskadi09’ initiatives developed by the Basque Government as a response to the economic crisis.
Bilbao, 8 April 2010.
