11/12/2008

Log-In Logística to invest US$107mn in 2009

Brazilian transport, storage and logistics company Log-In Logística Intermodal (Bovespa: LOGN3) announced it will invest 228mn reais (US$107mn) next year, paper Valor Econômico reported.

This sum might be increased if the construction of grain transport ships to transport bauxite and the Manaus river port, in Amazonas state, are included on its project list, the report said.

Of the approved amount, 129mn reais will be for the construction of container ships, 28.4mn reais will be used to expand capacity at its Vila Velha container terminal in Espírito Santo state, and 21.4mn reais will be invested in the Paulínia intermodal terminal in São Paulo state. Current investments will be allocated 15mn reais.

For expansion at the Camaçari multimodal terminal, in Bahia state, 31.9mn reais are expected to be invested, of which 26.4mn reais from 2008 have been reallocated to 2009.

Publication: Business News Americas - English News
Provider: Business News Americas
November 11, 2008

11/10/2008

Parana to raise up to US$185mn in capital

Brazilian midsize bank Paraná Banco plans to raise up to 400mn reais (US$185mn) in capital, the bank said in a filing with São Paulo stock exchange Bovespa.
The bank's board approved the program to end-December.

Paraná Banco is controlled by local holding company J Malucelli Holding, which has 72.4% of the voting stock and 41.8% of its overall shares, according to the latest Bovespa filings.

Paraná Banco recorded 19.1mn reais in third quarter net profits, falling 10.6% on the same quarter last year. The bank held 2.19bn reais in total assets at end-September, increasing 22.0% on the same time last year.

Publication: Business News Americas - English News
Provider: Business News Americas
November 7, 2008