The parties have founded a new company, Valpro gerenciamento de obras Ltda, to attend exclusively to Metso projects in the South American pulp, paper and energy market, supplying specialized technical services in construction and erection management, commissioning and start-ups. The value of the agreement is not disclosed.

The new company is planned to start its activities during the next 30 days, with its head office located in São Paulo. "We believe in the potential of the pulp, paper and energy market. It will continue to be an interesting segment, especially with the Chinese demand, that has boosted the Brazilian pulp exports", says Eduardo Barella, Progen's CEO.