Dec 22, 2010. /Lesprom Network/. Ignacio de Colmenares joins ENCE as new CEO of the Group replacing Antonio Palacios Esteban who communicated the termination of his services contract, in agreement with ENCE. The appointment of Ignacio de Colmenares is expected to be approved in the next meeting of the Board of Directors of the company to be held on December 22, 2010, as the company said in a press release received by Lesprom Network. With the appointment of Mr. Colmenares as top executive officer, the company aims to boost the execution of its 2010-2013 Strategic Plan, once the process to reinforce its financial structure has been successfully executed in the last 18 months under the leadership of Antonio Palacios Esteban. Under this plan, which was communicated to the financial markets during the share capital increase amounting to Euro 130 million executed on March 2010, ENCE has set the following objectives: - Consolidating its position as one of the primary eucalyptus market pulp producers and extract the maximum value of a market environment with good prospects, - Strengthening its leadership in the generation of renewable energy with biomass by means of the development of projects for a total of 210MW, and - Securing a balance sheet at the top of the sector that will grant the company higher protection in any market environment and greater flexibility in implementing its growth plans. ENCE has decisively advanced in the implementation of such objectives in 2010, closing the first nine months of the year with an EBITDA of Euro 150 million and reducing its debt level to Euro 204 million as of 30 September 2010. Ence manages approximately 116,000 hectares of forests in Spain, Portugal, and Uruguay, and complies with the most demanding international requirements in the field of Sustainable Forest Management. Ence has three industrial complexes in Spain (Huelva, Navia in Asturias, and Pontevedra) with the capacity to produce 1.3 million tonnes of pulp and 1.7 million MW h of renewable electricity.