CHILE - Effective August 1st Pablo Franzini will succeed Kelly Shotbolt as President of Arauco’s North American operations, including Canada, the United States and Mexico.

As the Company had previously announced, Kelly Shotbolt will transition to Arauco’s Board of Directors.

Regarding Pablo Franzini’s appointment, Mr. Shotbolt said, “I have known Pablo for several years and believe that he is truly a wonderful fit in terms of his business acumen, his energy and vision, and his appreciation for forest products and composite panels. Having been with Arauco for 19 years, Pablo currently leads the company’s businesses in Argentina, Brazil, Uruguay and Mexico, and has held leadership positions in the financial, logistics and commercial areas of the company. I look forward to working with my prior colleague and friend in our new capacities. Please join me in welcoming Pablo to North America.”

Arauco North America is a subsidiary of Chile’s Arauco, a global leader in the production of sustainable forest products, including pulp, timber and composite panels. Recently the North American subsidiary started operations of its most modern particleboard mill located in Grayling, Michigan, an investment of USD 450 million, Arauco’s largest investment in North America to-date.