September 14, 2015 / 5:26 PM / 4 years ago

Chile's Arauco to build $325 million wood panel mill in Michigan

SANTIAGO (Reuters) - Chile’s Celulosa Arauco y Constitucion [ANTCOC.UL], one of the world’s biggest wood pulp companies, said on Monday that it would invest $325 million to build a wood panel mill in Grayling, Michigan.

Construction on the mill, which will have a capacity of 750,000 cubic meters (981,000 cubic yards) per year, is slated to begin in 2016, said Arauco, the wood and forestry arm of Chilean industrial conglomerate Empresas Copec.

Arauco already runs nine plants in the United States and Canada. North America accounts for a little more than a fourth of its overall sales.

Reporting by Anthony Esposito; Editing by Lisa Von Ahn

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