PORTUGAL – Sonae Indústria informed on October 16 that the severe fires which are affecting the central area of Portugal have reached the industrial units of Oliveira do Hospital and Mangualde, both the property of a fully owned subsidiary of Sonae Arauco SA, a company in which Sonae Indústria has a 50% shareholding.

The activity of the mentioned industrial units is closed.

The concrete evaluation of the situation and of the extension of the damages will be carried out as soon as full, unrestricted access to the premises is granted. According to the latest available information, damages are limited to the wood yards and nearby areas. The financial impact is still unknown but the company that owns these industrial units has insurance coverage for property damage and business interruption.