Masisa Argentina is now part of the Egger Group, having completely bought over by the Austrian company at purchasing price of US$155 Mn debt-free as of September 30.
Headquartered in St Johann in Tyrol, this is first time the wood-based material manufacturer EGGER is represented with a production site outside Europe. The acquisition includes Masisa’s chipboard and MDF factories, which employ 500 people. It also includes the retail network Masisa Placacentro in Argentina, Uruguay, and Paraguay that is run independently by 43 partners.
“With the acquisition of Masisa Argentina, we are continuing the internationalisation of the Group and continue to grow based on our own performance”, says Thomas Leissing, spokesperson of the EGGER Group Management.
The deal was first announced and signed in July, as part of a “goal to become a key market player in South America.”