Masisa to sell off its Chilean door manufacturing business to Masonite13 August 2013
Leading South American wood panel producer Masisa has agreed to sell off its Chilean door manufacturing business to the global group Masonite International Corporation for US$12.5m.
Santiago, Chile-based Masisa is disposing of its door assembly plant in Chillán along with the door components line at the group's industrial complex in Cabrero allow it to focus on its main wood board business.
The Chilean group, which runs panel mills across Latin America, has announced a US$216m investment programme with capacity and other projects in Chile, Brazil and Mexico this year.
The Masisa operations, with a combined workforce of 300, produce a range of quality stile and rail and French doors for the North American market.
"Masisa's decision to sell the doors is in line with its focus on the core and allied business of producing and marketing wood panels for the furniture and interior fittings sectors in Latin America, which offers attractive growth opportunities in our existing markets," explained Jaime Valenzuela, CEO of Masisa Andina.