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Masisa’s board of directors has approved, on July 4, 2013, the construction of an MDF plant (Medium Density Fiberboard), a coating line (melamine) and the expansion of the already existing resins plant in its industrial complex located in Durango, Mexico. The new MDF project and the coating line will have a production capacity of 200,000 cubic meters and 100,000 cubic meters, respectively.

These advanced technology projects represent an investment of approximately US$ 132 million, which will be funded through the Company’s operational cash flow generation and the structured divestiture of some non-strategic forestry assets in southern Chile.

Masisa has been in Mexico for over 10 years, with industrial and commercial operations, developing MDF and PB market for furniture and expanding its customer base throughout the country. By investing in a local MDF manufacturing facility, the company will complete its production mix, reduce its costs and achieve increased logistical efficiency.

These new investments are in line with Masisa’s growth plan and consolidate the Company’s leading position in a market that has attractive projections, due to an increasing Mexican domestic demand and the possibility of serving other markets.

The beginning of the construction is subject to approvals to be obtained according to Mexican laws.

 

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