ARAUCO and ETEX Group set the foundation for a strategic alliance that aims to develop new construction solutionsOthers
The projected joint venture aims to develop new innovative construction solutions featuring timber. This new business considers an initial US$6 million dollar investment which can increase up to US$15 million, and is in line with the global challenge of developing sustainable construction systems.
ARAUCO and ETEX signed a partnership agreement to improve habitability and sustainability in construction with innovations in the development of dry construction solutions with wood for the home, building and remodeling markets.
This partnership will have an US$ 6 million investment, starting in Chile to strengthen the national and Latin-American market.
The agreement was made official in a signature ceremony led by Roberto Angelini, Vice chairman of ARAUO’s Board of Directors; Matías Domeyko, ARAUCO’s CEO; Jean-Louis de Cartier de Marchienne, Chairman of Etex Group; and Paul Van Oyen, Etex Group’s CEO, in addition to other executives of both companies.
Today, Chile maintains a number of initiatives to strengthen building with wood. This partnership is a step forward in the industrialization of construction and will generate an offer that meets the complexities and challenges of the future.
“This alliance is in line with ARAUCO’s activities and the challenge of strengthening the industry with construction solutions in timber that are sustainable and that contribute to people’s quality of life. It also answers to the new opportunities our company has recently visualized, and in this sense, what’s better than doing it with a company that has a lot of experience and presence in over 40 countries worldwide”, said Matías Domeyko, ARAUCO’s CEO.
ETEX Latin America Managing Director Cristian Montes stated, “This joint venture will reinforce the strategy that aims to strengthen a group of solutions to promote dry construction around the world. ETEX is a global expert in dry construction, combining exceptional technical knowledge with local presence to develop solutions that will improve construction of the future”.
The operation is subject to the usual terms and conditions of this type of business, such as previous approval by the National Economic Public Prosecutor’s office. This free competition authority has already been notified.
ARAUCO – ETEX Group