Empresas CMPC S A : Press Release - October 23, 2020
October 23, 2020 at 04:55 pm EDT
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PRESS RELEASE
CMPC, through its subsidiary CMPC Celulose Riograndense Ltda., entered into a purchase agreement with Florestas do Sul Agroflorestal Ltda. in relation to the equity interest issued by a newly incorporated subsidiary of Florestas do Sul Agroflorestal Ltda. that will own all the timber assets currently owned by Florestas do Sul Agroflorestal Ltda.
On the date of the closing of the transaction, the new company will own approximately
5.3 million cubic meters of eucalyptus planted across the state of Rio Grande do Sul, Brazil, which will be used to supply CMPC Riograndense's pulp mill in the city of Guaíba, RS, Brazil.
The purchase price established for the transaction is equivalent to USD 63 million, subject to certain adjustments based on the variation of the volume of the timber assets.
The closing of the transaction is subject to the completion of a series of conditions precedent, common in this type if operations, including the approval by the Brazilian antitrust authority Conselho Administrativo de Defesa Economica, in compliance with Brazilian Law.
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Empresas CMPC SA published this content on 23 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 October 2020 20:54:02 UTC
Empresas CMPC SA is a Chile-based company primarily engaged in the paper products industry. The Company's activities are divided into five business segments: Forestry, which includes products that are logs for the manufacturing of cellulose pulp and solid lumber products, such as sawn lumber, remanufactured products and plywood boards; Pulp, which provides pulp manufactured in production lines in Chile and Brazil; Paper, which focuses on the production and marketing of cardboard, paper for corrugation , industrial-use paper and newsprint; Tissue, which is responsible for producing and selling tissue, sanitary and specialized hygienic products, such as toilet paper, napkins, baby diapers and facial tissues, and Other, which includes general administrative services. The Company operates in Argentina, Colombia, Mexico, Peru and Ecuador, among others. It controls a number of subsidiaries, such as CMPC Celulosa SA, Cartulinas CMPC SA, Chimolsa SA La Papelera del Plata SA.