CONCORDIA, Argentina -- Egger Group has announced that the acquisition of the Masisa plant in Concordia, Argentina, from the Chilean Masisa S.A. has been successfully completed upon closing of the contracts. This will be the first time the wood-based material manufacturer Egger is represented with a production site outside Europe. The group, with headquarters in St. Johann in Tyrol, takes over the number 2 in Argentina for a purchasing price of $155 million debt-free.

In addition to the plant in Concordia, which has facilities for producing and coating chipboard and MDF board, Egger also took over the retail network Masisa Placacentro in Argentina, Uruguay, and Paraguay that is run independently by 43 partners. The plant in Argentina employs 500 people, which the Austrian wood-based material manufacturer is taking over.

The Concordia plant has capacity of 165,000 square meters of chipboard, and 280,000 square meters of MDF.

“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. “Our goal is to become a key market player in South America.”