Novopan del Ecuador opens new plant

(Quito, March 18, 2008).- The company Novopan del Ecuador opened its new industrial plant in a ceremony in the presence of acting President of the Republic Lenin Moreno, ministers of state, the deputy mayor of Quito, CAF representatives and other special guests.

This project was financed by CAF and Banco Pichincha CA, which contributed a total of US$11.5 million. The funds financed the construction of the new state-of-the-art plant, which will result in increased exports, more jobs and improved efficiency and competitiveness. The plant currently produces 120,000 m3 of particle board.

CAF representative in Ecuador Luis Pálau-Rivas said that this type of project contributed to the productive development of Ecuador, increased exports and promoted the growth of innovative companies, leaders in the country. With this operation, CAF is backing the company’s plans for growth, strengthening, productivity and competitiveness.

One of the leading companies in the wood sector, Novopan began its operations in Ecuador in 1978 and now produces, markets locally and exports particle board under ISO 9000, 14000 international certifications, which guarantees the quality of all their products. The company is totally integrated, which permits control of quality and economies of scale. It exports its products to neighboring Peru and Colombia, as well as Mexico, Panama, United States, among others.