Copec Investing in Chile Pulp Operations

Copec, Chile, will invest $700 million in its Celulosa Arauco y Constitución (CELCO) wood pulp (cellulose) operations this year, according to local newspaper reports. CELCO is a pulp, engineered wood, and forestry company controlled by the Empresas Copec group. CELCO has five pulp mills in Chile and one in Argentina, as well as four engineered wood manufacturing plants in Chile, two in Argentina, and two in Brazil. In 2009 CELCO reportedly closed a deal worth $344 million with Finnish papermaker Stora Enso to acquire assets from the Spanish paper, pulp, and energy company Ence in Uruguay.

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