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Masisa Sells Forestland to Hancock for $203 Million

Masisa Sells Forestland to Hancock for $203 Million | Timberland Investment | Scoop.it

Masisa SA has reached an agreement to sell 62,000 hectares of its Chilean forestland to US Hancock Natural Resource Group for $203.6 million. News sources report the transaction is expected to be completed within the next two months.


A new company, NewCo, is being formed as part of the deal, with Hancock receiving 80 percent of the shares and Masisa the remaining 20 percent. "NewCo and Masisa signed a long-term contract for the supply of the raw materials for the board plants of Masisa in Chile," the company stated in IHB.de.


The forestland is located in the Chilean regions of Vadivia and Temuco. Almost half of the timber is radiata pine.


"This agreement will allow us to fund our growth plan for the years 2014 and 2015, strengthen our financial profile and add a partner with a global expertise in investment and management of forest assets, which means an important contribution to the strategy Masisa comprehensive development," Masisa CEO Roberto Salas stated in Latercera.com.

A producer of particleboard and fiberboard for use in furniture and cabinetry, Masisa owns and operates composite panel plants in Latin America, including Mexico.

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Chile, Brazil and Uruguay among the world’s leading exporters of wood chips

Chile, Brazil and Uruguay among the world’s leading exporters of wood chips | Timberland Investment | Scoop.it
Wood chip exports from Latin America are on track to reach a record high of almost eight million tons in 2011, reports the Wood Resource Quarterly.
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Work stoppages at Chilean ports block exports of fruit, copper and wood pulp

Work stoppages at Chilean ports block exports of fruit, copper and wood pulp | Timberland Investment | Scoop.it

A series of fast-spreading port strikes in Chile are blocking exports of copper, fruit and wood pulp and keeping thousands of workers idle.


The stoppage in the world’s top copper-producing nation started in the northern port of Angamos more than two weeks ago, when workers began demanding a 30-minute lunch break and a place to set up a cafeteria. Dock workers in other northern ports have joined in solidarity, causing huge losses for the mining, timber and fruit industries in export-dependent Chile.

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