Grupo Corporativo Papelera (GCP) is purchasing 32 acres in the East Montgomery Industrial Park in New Caney, Texas. The estimated USD400 million facility will serve as the site for the company’s new manufacturing and conversion facility.
Strong demand for tissue products, especially toilet paper, prompted GCP’s decision to expand its operations in the U.S. Construction is expected to begin in the next 18 months, once the sale closes. It is contingent upon an agreement with the East Montgomery County Improvement District, which remains to be signed. The agreement stipulates 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.