Central Puerto Acquires Forestry Assets from Masisa Group in Argentina
This operation of 70 million dollars represents the largest transaction in the forestry sector in the last 30 years in Argentina.
BUENOS AIRES, ARGENTINA / ACCESSWIRE / January 5, 2023 / Central Puerto (NYSE:CEPU), the leading company in the production of electricity at a national level, acquired forestry assets from Grupo Masisa in Argentina, a forestry business company. This operation of 70 million dollars represents the largest transaction in the forestry sector in the last 30 years in the country.
Central Puerto is a national capital company that has a track record of more than 100 years in the energy industry. Based on the impulse of its main shareholders - Guillermo Reca, the Miguens-Bemberg family and Eduardo Escassany - it diversified its businesses and acquired Masisa’s forestry assets in the country. In this way, Central Puerto becomes the main Argentine company in the forestry sector, a market in which foreign capital companies mostly operate.
“At Central Puerto we have made the strategic decision to invest in all those industries in which the country has clear comparative advantages. Thus, we are pleased to announce the acquisition of Masisa’s forestry assets in Argentina”, affirmed Fernando Bonnet, general manager of Central Puerto.
The company continues to take steps to strengthen its presence in Argentina. In this sense, Bonnet added: “We are analyzing investment alternatives aligned with the global trend of developing innovative projects that increase the environmental performance of companies and contribute to global decarbonization objectives.”
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 of the highest growth rates not only in the region, but in the world: trees grow about ten times faster than in the northern hemisphere. That is why the forestry sector in which Central Puerto enters provides one of the businesses with the greatest competitive advantages and the greatest growth potential as a generator of foreign currency in Argentina. It can also mean a source of future business opportunities linked to carbon credits and energy generation with biomass.
About Central Puerto SA:
Central Puerto is a leading company in the production of electrical energy in Argentina that has 13 generation plants of various technologies, +800 employees and reaches a 10.3% market share thanks to its operational excellence and profitability. Its mission is to produce electricity efficiently, sustainably and in harmony with the environment. In turn, it seeks to contribute to supplying demand, managing businesses in such a way that they create value not only for the company, but also for society. Currently, it has an installed generation capacity of 4,809 MW.
SOURCE: Central Puerto
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