26 August 2009

Chile’s Copec to Buy Tafisa Brasil for $165.2 Million

By Nathan Gill
Aug. 26 (Bloomberg) -- A unit of Empresas Copec SA, Chile’s biggest pulp producer, agreed to buy Brazilian wood-panel maker Tafisa Brasil SA for about $165.2 million.

Placas do Parana SA, a unit of Copec’s forestry subsidiary Celulosa Arauco y Constitucion SA, will buy 100 percent of the Brazilian company from Sonae Industria SGPS SA, Arauco said today in a regulatory filing. The unit also will assume $61.8 million of Tafisa’s debt.

“The acquisition of this asset will allow Arauco to consolidate its presence in the Brazilian wood-panel market,” Arauco said in the statement.

Parana, Brazil-based Tafisa produces as much as 640,000 cubic meters a year of wood panels for the construction and furniture industries, according to the statement.

Copec rose 1.4 percent to 6,849 pesos in Santiago trading, the steepest gain in a week.