18 May, 2009
Arauco and Stora Enso purchase the majority of operations of Grupo Ence in Uruguay
Arauco and the Finnish-Swedish transnational Stora Enso have signed an agreement with Grupo ENCE of Spain to jointly and equally acquire 130,000 hectares of forested lands, plantations and other operations the Spanish company had in the central and western parts of Uruguay.
Until today, Arauco and Stora Enso were owners of 74,000 and 39,000 hectares of properties in Uruguay, respectively. After purchasing assets ENCE, their forested land surface will total 255,000 hectares. The purchase ENCE includes industrial properties in Punta Pereira and M`Bopicuá, a port and barge terminal, a chipping plant, a nursery and the incorporation of its organizational structure.
