Cotopaxi Acquires Plywood and MDF Company in Uruguay

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Researched by Industrial Info Resources Latin America (Cordoba, Argentina)--Medium density fiberboard (MDF) manufacturer Cotopaxi (Quito, Ecuador) is reported to have arrived at an agreement to acquire all property of Uruguayan wood panel manufacturer Urupanel (Tacuarembo, Uruguay).

For Cotopaxi, Uruguay represents a great opportunity in terms of forest plantations, while also offering investment stability. The Ecuadorian investors will take control of the plant in the second quarter of 2012. The plant currently is running at 30% of its design capacity and is expected to reach full capacity by the end of the year. The operation required an investment of approximately to $12 million.

The Tacuarembó plywood and MDF mill is is located in the state of Tacuarembo in Uruguay and it began operations in 2004. The mill's current annual production is 24,000 cubic meters of plywood and 18,000 cubic meters of MDF, but the designed annual capacity is 100,000 cubic meters of plywood and 60,000 cubic meters MDF. About 420 employees are working at the facility.

Urupanel, is located in the state of Tacuarembo and is one of the first companies in Uruguay to export plywood and MDF. The company was created in 2005 and exports products to Mexico, Colombia, Peru, Chile, Argentina and others.

Cotopaxi is located in Quito, Ecuador. It was founded in 1978 and has an annual production exceeding 140,000 cubic meters per year and a forest area of 12,500 hectares.

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