CHILE – Panel board manufacturer Arauco, closed the third quarter of 2015 with a net income drop of 3.9%, as it reached USD 87.0 million, and compared to the USD 90.4 million obtained in the third quarter of 2014.

The third quarter of the year also marked the Company’s announcement of a new particleboard in Grayling, Michigan.

Arauco’s revenues reached USD 1,281.4 million during the third quarter of 2015, a 5.0% decrease compared to the third quarter of 2014. EBITDA reached USD 324.6 million, an increase of 3.9% compared to same period 2014. EBITDA for the 9M-2015 stood at USD 993.4 million, a 5.9% increase when compared to the USD 938.1 million reached in the same period in 2014.

Arauco announced in September the intention to build a new particleboard plant in Grayling, Michigan. This mill will be the single largest in North America, and one of the highest capacity particleboard presses in the world, producing up to 750,000 m3 of panels per year. Groundbreaking is estimated for late 2016, with the rollout of the first panel during the latter part of 2018. This investment in North America will complement the supply of MDF from the Company’s neighboring mill in Salt Ste. Marie, Ontario. This project is subject to approval of incentives and permits by both state and local agencies as well as final approval by the Arauco Board of Directors

 

Arauco Results July-September 3Q

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Arauco Results January-September

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