Masisa, the wood panel manufacturer in Chile, plans to start up a new plant in Mexico and wants to invest in Argentina too, as Roberto Salas, the company’s president stated on the 16th of May.
The new plant is planned to be built in Durango, with an annual production of 240,000 m3 during a month’s time. Salas added that Mexico is the new focus of the company for their upcoming results, as Reuters reported.
Masisa owns 47,639 hectares (117,719 acres) of forest and one plant in Argentina and the company wants to develop in the area too, as the new elected President Mauricio Macri has initiated a string of business-friendly reforms.
"We must still be cautious (on investment). We're going to wait until the end of the year to see how things are going ... we would be willing to increase investments once we see the (economic reform) process taking shape,” Salas added.
Venezuela and Brazil bring almost 20% to Masisa’s income, but even if the countries’ economies are down, Salas stated that the company is more interested in the medium and long term developments, as he believes that the countries will eventually recover, as reported by Reuters.
Masisa has its headquarters in Santiago and holds operations in Chile, Venezuela, and Brazil. The company also has a distribution network all over Latin America.