Corporativo Durango (Codusa) is working on a new business strategy, by which it tries to convince its customers to source local inputs as imported inputs have increased their prices due to exchange rate volatility.
According to Mayela Rincón, the company’s Vice President of Finance, with this project the company concluded its financial restructuring, as well as the bankruptcy that began last October.
“The effective restructuring provides the company with a solid capital structure and great financial flexibility by reducing its financial debt by 54%, which went from $542 million to $250 million, as documented in a seven-year international bond issue, with one capital payment in August 2016,” he said. is the executive director.
The interlocutor explained that interest will be calculated on the bonds at the rate of 6 percent in the first year, 7 percent in the second, third and fourth years and 10 percent in the next three years.
“Over the past years, the production platform and leadership in the paper industry has increased,” he noted.
Codusa is the largest paper producer in Mexico, with eight paper mills, 21 packaging and converting plants, as well as 11 collection centers for recycled fibers in Mexico and the United States.
Source: El Universal