While the Brazilian economy is deep in a recession, Brazilian pulp company Fibria (FBR) is expanding and investing in its business. As a net exporter, Fibria is benefitting from Brazil's weak currency. Ninety percent of the company's produced goods are exported, according to Marcelo Castelli, Fibria's CEO, who described the weak real as a tailwind. Castelli said he isn't worried about any weakness in its end markets. 'The China, or the Asia demand is still there, despite the China soft landing,' said Castelli, who called China the biggest demand engine. He added Fibria is also seeing strength in Europe, despite worries about macroeconomic conditions there, and in North America. Castelli added that Fibria is preparing for a new growth cycle. At an investor meeting in New York on Wednesday, Fibria announced that it will spend $584 million (U.S) in Capex for 2016. The company is adding 35% more capacity to an existing mill, and is looking at other potential opportunities.

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