Brazilian engineering and manufacuring firm Montagens and Projetos Especiais SA announced its confirmation to buy a dead ethanol and sugar mill in the country's south east region of Rio de Janiero. The acquisition was reported initially by news agency Valor Economico.
More commonly known as MPE, Montages and Projectos Especiais SA will use a total of 70 million reais, equal to US$31.2 million, to fund its campain for equipment modernization and upgrade. The company also plans on planting crops at the sugar cane mill of Usina Sapucaia located in Campos dos Goytacazes, said the Sao Paolo newspaper's report today which cited the company's president Renato Abreu.
Usina Sapucaia filed for sudden bankruptcy three years ago. The company has not been operating since the filing, and no crops have been processed even after numerous recent harvests.
Montagens and Projetos Especiais provides civil engineering and construction services to businesses in the transportation, petrochemical, energy, steel, oil and gas sectors.
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