CHILE - The growing usage of wooden panels in the furniture and interior architectural industries in Latin America along with regional housing shortages will be a source of growth for panel manufacturers according to Masisa’s 2013 Annual Report.

The regional housing shortage is estimated at 51.9 million units. To meet this shortage 19.5 million m3 of wooden panels will be required, this is 2.1 times more than the current wooden panel consumption in the region. The board manufacturer estimates that current Latin American wooden panel consumption is four times lower that that in developed countries. Masisa expects within the medium to long term range an important increase in wooden panel usage derived from new housing in Mexico, Brazil and other Latin American countries.

In early 2013 Masisa announced a USD 600 million investment plan as an important component of its strategic plan to 2015. In 2013 the company began executing this plan with the start production of its new panel finishing lines in Cabrero, Chile, its new melamine laminating line in Brazil and the announcement of the construction of a new MDF plant in Mexico.