This will be the first time the wood based material manufacturer Egger is represented with a production site outside Europe.
The group, with headquarters in St Johann in Tyrol, takes over the number two position in Argentina for a purchasing price of US$155m debt-free.
The acquisition contracts between Egger and Masisa were signed on July17, 2017. In addition to the plant in Concordia, which has facilities for producing and coating particleboard and MDF board, Egger also took over the retail network Masisa Placacentro in Argentina, Uruguay, and Paraguay that is run independently by 43 partners.
The plant in Argentina employs 500 people, which the Austrian wood based material manufacturer is taking over.
