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Novus began full operations at its new plant in the Parque Canoas de Inovação, moving 100% of its Porto Alegre operation there. The first-stage investment is R$20 million, and the factory is about three times larger than the previous one.
Novus Holdings agreed to acquire control of ITB Manufacturing, a South African maker of flexible packaging and security bags, through its subsidiary Paarl Media. Purchase consideration is R180 million plus an EBIT-based amount, capped at R300 million in aggregate.
