Central Puerto Acquires Forestry Assets From Masisa Group in Argentina
This transaction of 70 million USD represents the largest in the forestry sector over the past 30 years in Argentina.
BUENOS AIRES ARGENTINA / ACCESSWIRE / January 5, 2020 / Central Puerto (NYSE.CEPU), the largest company in electricity production at a national level acquired forestry assets of Grupo Masisa, an Argentine forestry company. This 70 million dollar transaction is the largest in the country’s forestry sector over the last 30 year.
Central Puerto, a national capital firm with a history of over 100 years in the energy sector, is one example. It was founded by Guillermo Reca and Eduardo Escassany, its main shareholders. They also bought Masisa’s forest assets. Central Puerto is now the largest Argentine company in forestry, a sector in which most foreign capital companies operate.
“Central Puerto has made the strategic decision that it will invest in all industries where the country has clear comparative advantage. Fernando Bonnet, General Manager of Central Puerto, stated that we were pleased to announce Masisa’s acquisition of Argentinian forestry assets.
The company continues to work to expand its presence in Argentina. Bonnet said that the company is currently analyzing investment options aligned to the global trend of developing innovative project which increase the environmental performance and contribute to global decarbonization goals.
The acquisition of the forest assets of Masisa Argentina implies the incorporation of more than 72,000 hectares of fields with forest potential, distributed between the provinces of Entre Ríos and Corrientes, of which approximately 43,000 hectares are planted with eucalyptus and pine.
Argentina has one the highest growth rates in the world, not just in the region but worldwide: trees grow ten times faster in Argentina than they do in the northern hemisphere. Central Puerto is entering the forestry sector, which has one of the best competitive advantages and highest growth potential in Argentina as a source of foreign currency. This can open up new business opportunities in the future, especially if you are interested in carbon credits or energy generation with biomass.
About Central Puerto SA
Central Puerto, Argentina’s leading producer of electricity, has 13 generation plants with different technologies. It employs +800 people and enjoys a 10.3% market share due to its operational excellence. Its mission, to produce electricity in harmony with nature and the environment, is efficient, sustainable and cost-effective. It seeks to provide electricity, manage businesses and create value for society. It has an installed power generation capacity of 4,809MW.
SOURCE: Central Puerto
Accesswire.com:
https://www.accesswire.com/734157/Central-Puerto-Acquires-Forestry-Assets-from-Masisa-Group-in-Argentina