The US$54.2m purchase, first announced by Masisa in August last year, involves Masisa’s addition of two particleboard/MDP production lines with a combined capacity of 460,000m3/year.

Also included are low pressure melamine laminating, paper impregnation and printing lines, decorative high pressure laminating lines and a 24,000 ton per year resin plant at three plant sites in Lerma near Mexico City, Zitacuaro to the west and in Chihuahua, northern Mexico. Masisa gains the Rexcel finished panel brands of Wilsonart and Panelart.

The deal will triple the Chilean group’s panel production capacity in the country as it already has a 150,000m3/year two line particleboard plant in Durango, Mexico. Masisa funded the acquisition from a US$100m in group capital.

The Masisa group saw its Q2 2012 net profit rise by 52% to US$17.2m and sales rose 10.3% to US$336m against the same period in 2011 thanks to growth in demand across most Latin America markets.