Arauco announced the signature of an agreement for subscription of 50% of the shares of Spanish company Tafisa, which represents a $150 million investment.
This business owns 10 panel mills that are distributed in Spain, Portugal, Germany and South Africa. Combined, these production facilities employ 3,000 people and produce a total of 4.2 million cubic metres of panels.
This company is currently a subsidiary of Portuguese group Sonae. Once the transaction is complete, the new company will be called Sonae-Arauco.
The corporation in which Arauco will participate –which has estimated annual sales for $900 million- produces and sells OSB, MDF, and PB panels, as well as sawn timber.
Arauco will operate two panel mills and one saw mill in Spain; two panel mills and one resin facility in Portugal; four panel mills in Germany and two in South Africa.
Sonae-Arauco’s production capacity will be about 460,000 m3 of OSB, 1.45 million m3 of MDF, 2.27 million cubic metres of PB and 100,000 cubic metres of sawn timber.
This investment will rank Arauco as the second producer in the wood panel global ranking, with an annual production of 9 million m3, which includes 50% of Tafisa’s production.
Matías Domeyko, Arauco’s CEO, said this action “alligned with positioning ARAUCO as a global company that is present in the world and embracing new challenges. This is also a very good opportunity to diversify geographically in relevant markets, with good perspectives”.