Arauco has completed its share agreement for the purchase of 50% of Tafisa, a subsidiary of Portuguese group Sonae Industria.
This landmark acquisition marks the beginning of Arauco’s operations in Europe and South Africa. With this $150 million investment the newly formed company, Sonae-Arauco, will manufacture and sell OSB, MDF, particleboard and sawn timber.
This equates to an additional 12 production facilities operating in Spain, Portugal, Germany and South Africa. In total these facilities provide employment to 3,000 people and have a panel production output of 4.2 million m3.
The combined annual capacity of the Arauco wood panel business will reach nine million cubic metres, ranking Arauco as the second largest producer globally.
Source: Lesprom Network