UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16
of
the Securities Exchange Act of 1934
For
the
month of January 2008
Masisa
S.A.
(Exact
name of registrant as specified in its charter)
Masisa
S.A.
(Translation
of Registrant's name into English)
Av.
Apoquindo 3650, Piso 10, Las Condes
Santiago,
Chile
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover
Form
20-F
or Form 40-F.
Form
20-F
X
Form
40-F
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ____
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ____
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under Securities Exchange Act of
1934.
Yes
No
X
If
"Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-_____
Item
1. Important Event issued by Masisa S.A. on January 15,
2008:
MASISA
S.A.
Publicly-Traded
Corporation
Registered
under Nº825 in the Securities Registry
SIGNIFICANT
EVENT
Santiago,
January 15, 2008
Mr.
Superintendent
Superintendency
of Securities and Insurance
Dear
Sir,
Pursuant
to what is laid down in article 9 and the second sub-paragraph of article 10
of
Law Nº18.045 and in General Regulation Nº30 of the Superintendency of Securities
and Insurance (SVS), and duly empowered to such effect by the Board of Masisa
S.A. (hereinafter referred to as “Masisa”) in a board meeting held on January
14, 2008, I hereby inform you of the following
significant
event
concerning Masisa and its business:
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1.
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On
January 15, 2008, Masisa and Brascan Brazil Ltda., a Brazilian
company
owned by the Canadian entity Brookfield Asset Management Inc.,
signed a
share purchase and sale contract in which Masisa acquired 45.68%
of the
shareholding of the Brazilian company Tafibrás Participaciones S.A.
(hereinafter referred to as “Tafibrás”) and indirectly through Tafibrás
37% of the shareholding of the Brazilian affiliate of Tafibras
called
Tafisa Brazil S.A. (hereinafter referred to as “Tafisa
Brazil”).
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Tafisa
Brazil’s main line of business is the manufacture of wood boards and it has an
industrial plant in the state of Paraná, Brazil with a production capacity of
380,000 cubic meters of medium density fiberboard (hereinafter referred to
as
“MDF”) a year, 260,000 cubic meters of medium density particleboard (hereinafter
referred to as “MDP”) a year and 300,000 cubic meters of melamine boards
(hereinafter referred to as “Melamine”).
The
price
of this purchase and sale agreement was US$70,000,000 and was paid in cash.
Masisa will finance this operation with third-party debt.
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2.
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Tafibrás
and Tafisa are closed stock corporations. The remaining shareholders
of
Tafibrás and Tafisa are all companies indirectly owned by Sonae Indústria,
SGPS, S.A., a Portuguese publicly-traded corporation (hereinafter
referred
to as “Sonae Indústria”).
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Sonae
Indústria and Masisa have undertaken the commitment of in the next few months
working on the negotiation, agreement and implementation of the combination
of
the business of Tafisa and of Masisa’s Brazilian affiliate called Masisa do
Brazil Ltda. (hereinafter referred to as “Masisa Brazil”), be this by means of a
merger of the mentioned companies in Brazil or by another legal structure
of
these characteristics with the aim of positioning the new merged entity as
a
leading company in the Brazilian market.
The
business that Masisa Brazil will provide to the mentioned merger would be
its
production capacity of 280,000 cubic meters of MDF a year and 220,000 cubic
meters of melamine a year, both at its Paraná plant in Brazil, plus the capacity
to produce 675,000 cubic meters of MDP and 250,000 cubic meters of melamine
boards a year at the new plant that it has started to build at Rio Grande
do
Sul, Brazil.
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3.
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Masisa
and Sonae Indústria have signed an option agreement that (i) enables
Masisa to sell its entire shareholding in Tafibrás to Sonae Indústria and
(ii) enables Sonae Indústria to acquire Masisa’s entire shareholding in
Tafibrás, should the business merger mentioned in foregoing number 2 not
work out.
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Yours
faithfully,
Enrique
Cibié Bluth
CEO
Masisa
S.A.
Item
2. Press Release issued by Masisa S.A. on January 15,
2008:
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For
further information, please contact:
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Investor
Relations
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investor.relations@masisa.com
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PRESS
RELEASE
One
of the largest board manufacturers of that country
Masisa
Acquires 37% of Tafisa Brazil
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·
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The
operation amounted to US$70 million and is an important step by
Masisa to
continue growing in the Brazilian market, thereby consolidating
its
regional leadership.
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Santiago,
January 15, 2008.
Masisa
and Brascan Brazil Ltda., a Brazilian company owned by the Canadian entity
Brookfield Asset Management Inc., today signed a share purchase and sale
contract in which Masisa acquired 45.68% of the shareholding of the Brazilian
company Tafibrás Participaciones S.A. (hereinafter referred to as “Tafibrás”)
and indirectly through Tafibrás 37% of the shareholding of the Brazilian
affiliate of Tafibras called Tafisa Brazil S.A. (hereinafter referred to
as
“Tafisa Brazil”). The price of this purchase and sale agreement was
US$70,000,000 and will be financed with third-party debt.
“This
agreement to acquire a stake in Tafisa Brazil reflects that we are consolidating
our regional leadership in the wood boards for furniture and interior
architecture market and that we are constantly analyzing the opportunities
that
arise in order to generate value for our shareholders,” said Masisa CEO Enrique
Cibié.
It
should
be highlighted that in late September 2007 the Masisa board approved the
construction of a medium density particleboard (MDP) plant in Rio Grande
do Sul,
Brazil, entailing US$119 million.
The
main
line of business of Tafisa Brazil is the manufacture of wooden boards and
it has
an industrial plant in the state of Paraná, Brazil, with a production capacity
of 380,000 cubic meters of medium density fiberboard (hereinafter referred
to as
“MDF”) a year, 260,000 cubic meters of medium density particleboard (hereinafter
referred to as “MDP”) a year, and 300,000 cubic meters of melamine boards
(hereinafter referred to as “Melamine”)
Tafibrás
and Tafisa Brazil are closed stock corporations. The remaining shareholders
of
Tafibrás and Tafisa Brazil are all companies indirectly owned by Sonae
Indústria, SGPS, S.A., a Portuguese publicly-traded corporation (hereinafter
referred to as “Sonae Indústria”).
Sonae
Industria is today one of the world leaders in the wood board industry. It
has
an annual capacity of 7.1 million cubic meters of wood boards and it operates
in
nine countries, one of which is Brazil. In total, Sonae Industria has 36
production facilities.
An
agreement that generates synergy and higher growth
Sonae
Indústria and Masisa have committed to working on the negotiation, agreement
and
implementation of a combination of the business of Tafisa Brazil and of Masisa’s
Brazilian affiliate Masisa do Brazil Ltda. (hereinafter referred to as “Masisa
Brazil”) in the next few months, be this by means of a merger of the mentioned
companies in Brazil or by another legal structure of these characteristics
with
the aim of positioning the new merged entity as a leading company in the
Brazilian market.
The
business that Masisa Brazil will provide to the mentioned merger would be
its
production capacity of 280,000 cubic meters of MDF a year and 220,000 cubic
meters of melamine a year, both at its Paraná plant in Brazil, plus the capacity
to produce 675,000 cubic meters of MDP a year and 250,000 cubic meters of
melamine boards a year both at the new plant at Rio Grande do Sul,
Brazil.
Forecasts
and Estimates
This
press release may contain forecasts, which are different statements from
historical facts or current conditions, and include the management’s current
vision and estimates of future circumstances, industry conditions and the
Company’s performance. Some forecasts may be identified by the use of terms such
as “may,” “should,” “anticipates,” “believes,” “estimates,” “expects,” “plans,”
“intends,” “forecasts” and other similar expressions. Statements about future
market share, projected future competitive strengths, the implementation
of
significant operating and financial strategies, the direction of future
operations, and the factors or trends affecting financial conditions, liquidity,
or operating income are examples of forecasts. Such statements reflect the
current management vision and are subject to various risks and uncertainties.
There is no guarantee that the expected events, trends or results will actually
occur. These statements are made based on many assumptions and factors,
including general economic and market conditions, industry conditions and
operating factors. Any changes in such assumptions or factors could lead
to the
current results of Masisa, and the projected Company activities, to materially
differ from current expectations.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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Date:
January 15,
2008
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Masisa
S.A.
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By:
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/s/ Enrique
Cibié
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Enrique
Cibié
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CEO
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