CHILE - Arauco has acquired 50 percent of Tafisa's assets, including 10 composite panel mills in Europe and South Africa, for $150 million.
Announced Nov. 30, the acquisition does not include Tafisa's North American operations and its laminates and components businesses, which will continue to be fully owned by parent firm Sonae Indústria.
Arauco North America is investing $325 million to build the largest continuous press particleboard mill in North America.
When completed, the new company will be called Sonae-Arauco. According to information from Arauco, estimated annual sales for the new business are $900 million. Located in Spain, Portugal, Germany and South Africa, the 10 mills produce 4.2 million cubic meters of composite panel products and employ 3,000 people.
Sonae-Arauco’s production capacity will be about 460,000 m3 of OSB, 1.45 million m3 of MDF, 2.27 million m3 of particleboard and 100,000 m3 of sawn timber.
With the acquisition, Arauco says it is now the second largest producer in the wood panel global ranking, with an annual production of 9 million m3.
According to Arauco CEO Matías Domeyko, this action “aligned 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.”
In related news, Arauco announced in September plans to build the largest continuous press particleboard in North America. Located in Grayling, MI, the panel mill has a projected annual production capacity of 750,000 m3. Construction work is expected to begin in 2016.
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