One of the Largest Board Manufacturers of That Country Masisa Acquires 37% of Tafisa...

One of the Largest Board Manufacturers of That Country Masisa Acquires 37% of
Tafisa Brazil
The operation amounted to US$70 million and is an important step by Masisa to
continue growing in the Brazilian market, thereby consolidating its regional
leadership

SANTIAGO, Chile, Jan. 15 /PRNewswire-FirstCall/ -- Masisa and Brascan
Brazil Ltda., a Brazilian company owned by the Canadian entity Brookfield
Asset Management Inc., today signed a share purchase and sale contract in
which Masisa acquired 45.68% of the shareholding of the Brazilian company
Tafibras Participaciones S.A. (hereinafter referred to as "Tafibras") and
indirectly through Tafibras 37% of the shareholding of the Brazilian affiliate
of Tafibras called Tafisa Brazil S.A. (hereinafter referred to as "Tafisa
Brazil"). The price of this purchase and sale agreement was US$70,000,000 and
will be financed with third-party debt.
"This agreement to acquire a stake in Tafisa Brazil reflects that we are
consolidating our regional leadership in the wood boards for furniture and
interior architecture market and that we are constantly analyzing the
opportunities that arise in order to generate value for our shareholders,"
said Masisa CEO Enrique Cibie.
It should be highlighted that in late September 2007 the Masisa board
approved the construction of a medium density particleboard (MDP) plant in Rio
Grande do Sul, Brazil, entailing US$119 million.
The main line of business of Tafisa Brazil is the manufacture of wooden
boards and it has an industrial plant in the state of Parana, Brazil, with a
production capacity of 380,000 cubic meters of medium density fiberboard
(hereinafter referred to as "MDF") a year, 260,000 cubic meters of medium
density particleboard (hereinafter referred to as "MDP") a year, and 300,000
cubic meters of melamine boards (hereinafter referred to as "Melamine")
Tafibras and Tafisa Brazil are closed stock corporations. The remaining
shareholders of Tafibras and Tafisa Brazil are all companies indirectly owned
by Sonae Industria, SGPS, S.A., a Portuguese publicly-traded corporation
(hereinafter referred to as "Sonae Industria").
Sonae Industria is today one of the world leaders in the wood board
industry. It has an annual capacity of 7.1 million cubic meters of wood boards
and it operates in nine countries, one of which is Brazil. In total, Sonae
Industria has 36 production facilities.
An agreement that generates synergy and higher growth
Sonae Industria and Masisa have committed to working on the negotiation,
agreement and implementation of a combination of the business of Tafisa Brazil
and of Masisa's Brazilian affiliate Masisa do Brazil Ltda. (hereinafter
referred to as "Masisa Brazil") in the next few months, be this by means of a
merger of the mentioned companies in Brazil or by another legal structure of
these characteristics with the aim of positioning the new merged entity as a
leading company in the Brazilian market.
The business that Masisa Brazil will provide to the mentioned merger would
be its production capacity of 280,000 cubic meters of MDF a year and 220,000
cubic meters of melamine a year, both at its Parana plant in Brazil, plus the
capacity to produce 675,000 cubic meters of MDP a year and 250,000 cubic
meters of melamine boards a year both at the new plant at Rio Grande do Sul,
Brazil.
Forecasts and Estimates
This press release may contain forecasts, which are different statements
from historical facts or current conditions, and include the management's
current vision and estimates of future circumstances, industry conditions and
the Company's performance. Some forecasts may be identified by the use of
terms such as "may," "should," "anticipates," "believes," "estimates,"
"expects," "plans," "intends," "forecasts" and other similar expressions.
Statements about future market share, projected future competitive strengths,
the implementation of significant operating and financial strategies, the
direction of future operations, and the factors or trends affecting financial
conditions, liquidity, or operating income are examples of forecasts. Such
statements reflect the current management vision and are subject to various
risks and uncertainties. There is no guarantee that the expected events,
trends or results will actually occur. These statements are made based on many
assumptions and factors, including general economic and market conditions,
industry conditions and operating factors. Any changes in such assumptions or
factors could lead to the current results of Masisa, and the projected Company
activities, to materially differ from current expectations.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: January 15, 2008

Masisa S.A.
By:
/s/ Enrique Cibie
Enrique Cibie
CEO

For further information, please contact:
Investor Relations
(56 2) 350 6038
investor.relations@masisa.com
Internet: www.masisa.com

SOURCE Masisa

Investor Relations, Masisa, +011-562-350-6038, investor.relations@masisa.com