Egger 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 percent, 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.”