The takeover, creating 15 new Masisa jobs, is in line with Masisa’s policy of sustainable development.

"The purchase decision extends the capture of synergies between different units of the production complex, as well as continuing the process of converting our energy matrix to the use of renewable energy," explained Jaime Valenzuela, ceo of Masisa Andina.

The power plant, run by the Chilean energy company since January 2011 under a BOT (build-operate-transfer) contract, allows the complex to produce up to 200,000 tonnes of steam per year and 66 GW hr/year of electricity.

Meanwhile, Masisa is taking on its latest regional challenge to develop the potential MDF market in Mexico where it is building a new 200,000m3/year fibreboard plant by 2015.

"Mexico’s domestic market is huge and consumption in still very low. There is much work to be done," Mr Valenzuela told Chile’s 17th Expocorma Forest Industry Fair near Concepción.

Masisa has added distribution centres in Bolivia and is committed to its Venezuelan operations despite political uncertainty there, he said.