Chairman of Empresas Copec S.A. refers to capital increase at Celulosa Arauco y Constitución S.A.

Empresas Copec S.A., parent company of Celulosa Arauco y Constitución S.A. (Arauco), held its Annual Shareholders Meeting today, during which chairman Mr. Roberto Angelini Rossi stated: “the size of the projects, the low prices of some of our exports and the uncertainty due to social and sanitary conditions, make it necessary to adopt cautious management in all businesses. Specifically in the forestry business, as we’ve mentioned, is where we’re making the greatest investment efforts, which could imply financial support from this parent company by means of, among others, a capital increase that is being assessed by the subsidiary”.

Empresas Copec S.A. reported a profit of about US$172,000,000 in 2019.

Santiago, April 22, 2020