After taxes, the value of the transaction was approximately US$ 967 million, thus generating “a profit of approximately US$ 174 million after taxes.
Celulosa Arauco y Constitución completed the sale of part of its plantations in Brazil to Klabin SA, a leading company in the paper sector in that country.
The operation, reported in the first instance during December of last year, leaves a multimillion-dollar figure for the Chilean company, which exceeded initial projections.
Through an essential fact, the company informed the Financial Market Commission (CMF) that this Tuesday it transferred all the shares it had directly in “Arauco Florestal Arapotí SA and Arauco Forest Brasil SA, and indirectly in Empreendimentos Florestais Santa Cruz Ltda . and Florestal Vale do Corisco SA, which own assets mainly in the state of Paraná, Brazil.”
At the end of last year, Arauco reported that the plantations under this operation consist of “approximately 85 thousand useful hectares” between pines and eucalyptus. The panel plants and other forestry assets in the state of Mato Gosso do Sul would remain in the hands of the company
The final sale price exceeded initial estimates, remaining at US$1,168,000,000. After taxes, the figure was about US$ 967 million, thus generating “a profit of approximately US$ 174 million after taxes, to be recognized in this year.”
Such differences with respect to the initially anticipated value (US$ 1,160,000,000 and profit of US$ 130 million) arose due to the “early recognition at the end of the 2023 fiscal year of deferred taxes as established by IFRS accounting standards,” they maintain in the essential fact.
Investment in Ñuble plant
Arauco, belonging to the Empresas Copec holding company , announced at the beginning of July that it approved an investment of nearly US$ 100 million in its Trupán Cholguán Complex, in the Yungay commune, Ñuble region.
This with the objective of enabling a line where OSB products are manufactured, along with modernizing and renovating certain parts of the facility and incorporating new processes and equipment.
The initiative would create about 200 jobs on average, where the hiring of local labor would be privileged.
All in a context where the other major player in the forestry industry, CMPC, has repeatedly criticized the complexities of making investments within the sector, pointing out that “it is impossible to carry out projects in Chile.”
