The acquisition will see Chile-based Arauco buy seven production facilities in Canada and the US.
Arauco’s annual production is expected to increase to 2.9 million m3 of MDF and particleboard.
"This transaction reflects the significant internationalization process that Arauco is undertaking," said Matias Domeyko, Arauco CEO.
"With this important transaction, Arauco confirms its commitment to leadership in the panel business and would become one of the most important actors in this market at the global level."
Meanwhile, reconstruction of AraucoPly’s Neuva Aldea plywood mill, which was destroyed by fire in January, is continuing.
The new mill will have Raute equipment, to be delivered during the second half of 2012. It will have a production capacity of 350,000m3 of radiata pine plywood.
The facility is due to open in the third quarter of 2013.
