Itaúsa – Investimentos Itaú S.A. (“Itaúsa”) and Companhia Ligna de Investimentos (“Ligna”), controlling entities of, respectively, Duratex S.A. (“Duratex”) and Satipel Industrial S.A. (“Satipel”) have signed today a contract of association the companies Duratex and Satipel in order to unify the operations, resulting in the creation of the largest manufacturer of industrialized wood panels in the southern hemisphere and one of the largest in the world.
The resulting company will have an annual installed capacity of approximately 4 million cubic meters of industrialized wood panels with seven continuous lines, of which four are MDF (Medium Density Fiberboard) and three MDP (Medium Density Particleboard), as well as three hardboard lines installed at five strategically located industrial units. The forestry area will have approximately 209 thousand hectares of planted forests, dully FSC (Forest Stewardship Council) certified.
The association Duratex and Satipel has the objective of reinforcing competitive advantages based on the adoption of best management practices, and strengthening the culture and entrepreneurial competences, in conjunction with a greater capacity of technological innovation and product development. The result will be a global company with gains of scale in an increasingly competitive market and ready to continue its successful trajectory of sustainable growth.
The conclusion of this operation is also dependent on (i) the prior approval of the General Shareholders Meetings of the two companies to be called and (ii) the subsequent approval of the anti-trust authorities.