CerradinhoBio announces investment of R$206 million to expand corn processing capacity

CerradinhoBio announced, this Monday, 28/06, an investment of 206 million reais to expand its subsidiary Neomille, responsible for processing corn to produce ethanol and supplies for animal feed. The new expansion project will increase corn processing capacity by 185 thousand tons/year. The works will begin in September this year and be completed in twelve months.

CerradinhoBio, which released its 20/21 Harvest results this Monday, celebrates another historic performance. Net profit was R$265 million, 2,4 times higher than that recorded in the 19/20 harvest. Accumulated net revenue, in turn, grew 41,1%, totaling R$1,7 billion. Adjusted EBITDA totaled R$635,5 million, an increase of 28,4% compared to the previous harvest. Another highlight was ethanol production, which reached a historic record of 646,7 m³, a growth of 29,1%. Neomille was responsible for 31,6% of this ethanol production.

For Paulo Motta, CEO of CerradinhoBio, the company seeks to increase its production capacity through investments that result in solid and sustainable growth: “we seek to reinforce our competitiveness by focusing on improving productivity, reducing costs and optimizing assets. Neomille's expansion is perfectly aligned with this objective as it will maximize synergy with the sugarcane process, increasing productivity and reducing capex.”