Grupo Corporativo Papelera is purchasing 32 acres in New Caney, Texas, to set up a new tissue manufacturing and conversion facility. The company’s decision to expand U.S. operations was due to strong demand for tissue products, especially toilet paper. The construction is expected to begin within 18 months of the sale closing.
Jul 19, 2023
Grupo Corporativo Papelera (GCP) is set to purchase approximately 32 acres in the East Montgomery Industrial Park in New Caney, Texas. The facility, estimated at USD 400 million, will be serving as the site for the company’s new tissue manufacturing and conversion facility. The company’s decision to expand its operations in the U.S. was brought about by the factor of strong demand for tissue products, especially toilet paper.
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The construction is expected to begin within 18 months of the sale closing. It is contingent upon an agreement with the East Montgomery County Improvement District, which remains to be signed. The agreement states that the project must be completed within five years and generate 200 permanent job opportunities in exchange for incentives including funds for infrastructure improvements and discounted real estate costs.
