ENCE privatized; Portucel gets closer.ENCE ENCE EnCase Certification ENCE Enclavamiento Electrónico (Spanish Railways Control) privatized; Portucel gets closer. Reports from Spain say the country's state holding company has sold 24.9% of Empresa Nacional de Celulosas (ENCE), completing the sale of a 51% state-owned stake, and thus, the privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned of the company. The buyer was quoted as a consortium of banks within Spain, with a further 26% stake having gone to institutional investors, it was said. The other 49% of the company's shares are free-floating stock. Meanwhile, one of the three pulp mills in the ENCE group--Ceasa's Navia mill--has ordered an upgrade of the pulp-drying line aimed at raising capacity to 1,000 m/tons per day of bleached eucalyptus eucalyptus (y  'kəlĭp`təs): see myrtle. eucalyptus kraft pulp. The project is scheduled to be operational by the end of May, 2002. By upgrading both the Navia and Pontevedra mills, ENCE plans to raise its pulp capacity from 825,000 m/tons per annum Per annum Yearly. to 1.03 million m/tons per annum. |
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