Printer Friendly

MADERAS Y SINTETICOS S.A. ANNOUNCES INVESTMENT IN ARGENTINA APPROVED

 SANTIAGO DE CHILE, Chile, Jan. 10 /PRNewswire/ -- Maderas y Sinteticos S.A. (MASISA) (NYSE: MYS) today announced that in a Board Meeting held on Friday, Jan. 7, 1994, the investment in a medium density fiber board (MDF) plant in Argentina was approved. The amount of this investment is estimated at US$47 million and will be partially financed through the placement of 30,298,756 common shares. This amount of shares represents the total remaining shares approval as a capital increase in an Extraordinary Shareholders Meeting held Feb. 16, 1993.
 Each American Depository Receipt (ADR) represents 30 common shares.
 MASISA, which listed its American Depository Receipts on the NYSE in June 1993, is the leading manufacturer in Chile of raw, melamine laminated and wood veneered particle board. The Company is also a leading Chilean producer of wood doors, plywood and complementary products such as moldings, wood veneer, door frames, lumber and other related products.
 -0- 1/10/94
 /CONTACT: Rony Obach, chief financial officer of Maderas y Sinteticos, 011-562-683-7098, or Felicia Vonella of Dewe Rogerson Inc., 212-688-6840/
 (MYS)


CO: Maderas y Sinteticos S.A. ST: IN: SU:

TW-MP -- NY069 -- 0601 01/10/94 12:52 EST
COPYRIGHT 1994 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 10, 1994
Words:196
Previous Article:DIAMOND SHAMROCK MAKES ANNOUNCEMENT TO INCREASE THE COMPANY'S OWNERSHIP
Next Article:NIELSEN FACTOIDS WEEK OF JAN. 10, 1994: QUALITY, ECONOMY BRING BACK PRIVATE LABEL BRANDS
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters