Celulosa Arauco acquires Tafisa in Brazil

Celulosa Arauco, via its filial Placas do Parana, has paid US$165,2mil for the assets of the Brazilian reconstituted wood manufacturer Tafisa, owned by Sonae group that has a 640,000 m3 capacity at Parana state. Placas is also assuming debts of US$62mil, thus the acquisition would cost US$227mil. Charles Kimber, corporate matters manager with Arauco, says the move would enlarge the company share in the Brazilian market from 11% to around 22%. Arauco runs 605,000 m3 of MDF and should increase it to 1,2mil m3. As of Jan 2008 the Chilean Masisa has purchased 37% on Tafisa in a US$70mil deal, but its association with Sonae did not worked out and the stake went back to Sonae.

Chile: Publication: SABI - Business News
Provider: South American Business Information
August 29, 2009