Purchase is the Austrian company’s first production site out of Europe, and aligned with its internationalisation strategy.
With a 35 per cent market share, Masisa is the number two wood-based products manufacturer in Argentina. Masisa Argentina posted a turnover of US$131 Mn in 2016. The plant in Concordia has facilities for the production and lamination of chipboard and MDF boards.
In 2016, it recorded production capacities of 165,000 m3 chipboard, 280,000 m3 MDF and 274,000 m3 lamination. An enterprise value of US$155 million has been agreed for Masisa Argentina’s business.
EGGER will also take over the established Masisa Placacentro Argentinian dealer network, which is independently run by 42 partners. It will also take over all 500 employees.
Masisa Argentina’s forestry activities will not be owned by EGGER, but a long-term wood supply partnership has been agreed.
EGGER’s goal is to become a major player in the South American market. Although it already has a sales office in Chile since 2012, without its own production capacities it would always be limited to a small niche.
“We are certain that this is an opportune time to invest in South America,” Thomas Leissing, spokesman of the EGGER Group Management, said. “Argentina is just coming out of its worst economic downturn, and following recent political developments, there is plenty of reason to hope that the economy will continue on its course to recovery.
“We are looking forward to welcoming the new, qualified and dedicated colleagues who will support us in our further growth in South America, and who will gain clear opportunities for their future through this takeover.”
