ARGENTINA - With the closing of the contracts on the 30^th of September 2017, the Masisa plant in Concordia and the sales structure become part of the Egger Group. This will be the first time the wood-based material manufacturer Egger is represented with a production site outside Europe.

Egger took over Masisa’s Argentine assets for a purchasing price of USD 155 million debt-free. The acquired assets represent a 35% market share and the number 2 position in the Argentine panel board industry with a turnover of USD 131 million in 2016. The Concordia plant has a capacity of 165,000 m³ chipboard, 280,000 m³ of MDF boards and 274,000 m³ of lamination.

The acquisition contracts between Egger and Masisa were signed on the 17^th of July 2017. In addition to the plant in Concordia, which has facilities for producing and coating chipboard and MDF board, Egger also took over the retail network Masisa Placacentro in Argentina, Uruguay, and Paraguay that is run independently by 43 partners. The plant in Argentina employs 500 people, which the Austrian wood-based material manufacturer is taking over.

“With the acquisition of Masisa Argentina, we are continuing the internationalization of the Group and continue to grow based on our own performance”, says Thomas Leissing, spokesperson of the Egger Group Management. “Our goal is to become a key market player in South America.”