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EGGER GROUP acquires Masisa plant in Argentina
market information

02 September 2017

EGGER GROUP acquires Masisa plant in Argentina

Purchase contracts for plant in Concordia and sales structure signed on 17 July 2017. By acquiring the Masisa plant in Concordia, Argentina from Chilean company Masisa S.A., wood-based material manufacturer EGGER secures a production site outside of Europe for the very first time. Headquartered in St. Johann in Tirol, Austria, the company is consistently pursuing its strategy of continuing to grow on its own terms and to make itself future-proof through increasing internationalisation.

With a market share of 35%, Masisa is the number 2 in Argentina, with Masisa Argentina posting turnover of USD 131 million 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 boards and 274,000 m3 lamination. An enterprise value of USD 155 million has been agreed for Masisa Argentina’s business. Masisa Argentina's forestry activities are not to be taken over by EGGER, but a long-term wood supply partnership has been agreed. “We are certain that it is an opportune time to invest in South America,” explains Thomas Leissing, spokesman of the EGGER Group Management, “Because 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.”
About Masisa
With an annual turnover of USD 960 million in 2016, Masisa is one of the leading manufacturers and distributors of wood-based products in Latin America. Listed on the stock exchange of Santiago de Chile and employing some 9000 employees, the company has 10 production sites for chipboard and MDF boards in Chile, Argentina, Brazil, Venezuela and Mexico, a franchise distribution network with 332 retails stores (Placacentro) and a forest enterprise with 246 thousand hectares of useful woodland.
About EGGER
The family company founded in 1961 employs approximately 8,000 people. At 17 plants across Europe, they produce an extensive product range of wood-based materials (chipboard, OSB and MDF board) as well as timber. The company generated a turnover of EURO 2,34 billion in the 2015/2016 financial year. EGGER has global customers in the furniture industry, wood construction and flooring retailers, as well as DIY markets. EGGER is a full-range supplier for the furniture and interior design industry, for wood construction, as well as wood-based flooring (laminate, cork and design flooring) industries.
For more information contact Mr Thomas Leissing:

EGGER Group
Weiberndorf 20
A-6380 St. Johann in Tirol / Austria
Ph. +43 50 60010691
E-mail: thomas.leissing@egger.com 

http://www.egger.com