Egger goes to South America, buys Masisa plant in Argentina

Egger, the Austrian manufacturer of wood-based materials, has purchased the Concordia plant in Argentina from the Chilean company Masisa. Therefore, Egger is now represented with a product location outside of Europe for the first time.
With annual sales in 2016 of USD 960 mio, Masisa is seen as one of the leading manufacturers and distributors of wood-based products in Latin America. It is the number two in Argentina with a market share of 35 per cent. Masisa Argentina's sales in 2016 amounted to USD 131 mio. The plant in Concordia has facilities for producing and coating chipboard and MDF panels. Production capacity in 2016 lay at: 165 000 m³ chipboard, 280 000 m³ MDF panels and 274 000 m³ coating. The purchase price for the Masisa Argentina division was agreed at USD 155 mio on the basis of a debt-free takeover.
Masisa, the company listed on the Santiago de Chile stock exchange, has ten production locations for chipboard and MDF panel in Chile, Argentina, Brazil, Venezuela and Mexico, a distribution network which is similar to a franchising system with 332 retail stores (Placacentro) as well as forest holdings with 246 000 ha of woodland and around 9 000 employees.