Portuguese furniture components producer Probos-Plasticos SA plans to upgrade its subsidiary plant in Brazil with an investment totaling $1.5 million.
The Mindelo-based company, which specializes in plastic panel edge banding products, will modernize the operation in Curitiba.
The project, scheduled to be carried out this year, is designed to raise the firm's local market profile and enable it to provide increasingly sophisticated edging finishes for Brazilian customers. Edge banding products comprise decorated PVC or ABS strips used to cover and protect the open edges of chipboard furniture panels.
Meantime, Probos has plans to set up a distribution unit, and later a production facility, in either Mumbai or New Delhi.
Probos, which trades under the Proadec brand name, reportedly is considering opportunities in Mexico, Colombia and in Europe for organic growth and acquisitions. The company has said it wants to raise its global market share from 9 percent to 12 percent within two years.
Copyright 2010 Crain Communications Inc. All Rights Reserved.
