Acquiring 100% ownership of Frutifor Lumber Company (FLC), a sawmill located in Tacuarembó, US businessmen Mark Crandall, founder of PostScriptum, a private equity firm specializing in renewable energy and Matías Abergo of Uruguay, the CEO and co-founder of Enkel Group, a company dedicated to the development and construction of architectural projects, covering different scales and technologies, confirm the arrival of Arboreal.
Arboreal’s investment will contribute to the generation of added value from Uruguay’s forest resources, boosting industrial activity in the northern part of the country and promoting the development of environmentally sustainable construction. This transformative project for Uruguay’s timber industry will immediately increase the sawmill’s drying capacity, doubling production and therefore exports of processed timber as of the third quarter of 2021. The investment will also transform Uruguay’s timber production matrix and position the country in the global CLT (Cross Laminated Timber) market, as it will implement the largest and most advanced CLT plant in South America.
Installation is scheduled for the beginning of 2022. It is estimated that the investment, over USD 20 million during 2021-2022, will generate approximately 45 new jobs in Tacuarembó directly and more than 100 indirectly. These wood processing systems, also known globally as Mass Timber, will enable the construction of high-rise buildings, houses, housing complexes, sports centers, medical institutions, schools and other projects in Uruguay and the region. The investors plan to carry out massive training in wood construction techniques, both at the architectural level and in the construction process, so that professionals in the areas of architecture, engineering, and construction acquire the necessary knowledge and best practices.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
URUGUAY RECEIVES TRANSFORMATIONAL INVESTMENT IN THE TIMBER INDUSTRY