Masisa S.A. Announces Exit From Argentina

Masisa S.A., a wood products company headquartered in Chile, announced on December 29, 2022, that it had liquidated all of its assets in Argentina and was immediately ceasing all of its operations there. Masisa indicated the liquidation was part of its strategic plan to maximize profitability with higher value-added products and to create new sales channels by taking advantage of new technologies.

Masisa S.A. joins Falabella, a Chilean based mass merchandiser, which has also reduced its presence in Argentina. Other companies looking to reduce their operations in Argentina include Cencosud, along with Latam Airlines.