CHILE - Forestal Arauco, subsidiary of Celulosa Arauco, announced the sale of 56 forest plots located in Chile’s central southern area for about US$ 90 million.

The total surface adds up to nearly 11,000 productive hectares that account for approximately 1% of Arauco’s total forestland. The operation includes a contract establishing the general terms and conditions of their sale and an options contract for the purchase and sale of pulp log volume sourced from these plots.

Arauco explained that the operation is in keeping with the company’s management strategy of its forestry assets, in which the company acquires what is needed for its operations and sells what is non essential when conditions are beneficial. This particular transaction refers to plots located farther away from the company’s production facilities.