Chilean board manufacturer Masisa has placed its Rio Negrinho sawmill up for sale as it looks to pay off debts and finance a three-year forestry investment programme.
The Brazilian sawmill has a production capacity of 220,000m³, and also includes a finger-joint moulding line capable of producing 90,000m³ a year.
Masisa said the tender process would also include forest land near to the sawmill, with bidding open for the sawmill alone or as a tie-in with the standing assets. The 13,511ha site has 7,140ha of land planted predominantly with Taeda pine.
The tender process begins on October 15, with the final award expected in late December or early January 2009
“For Masisa, the objective of the possible sale is to continue to focus on its core wood board business that is commensurate with its strategy, and generate resources to finance a three-year forestry investment plan, in the meantime paying off financial liabilities,” said chief executive officer Enrique Cibié.
Masisa is scheduled to open a new R$223m MDF production line at Rio Grade do Sul, Brazil in the second quarter of 2009.
