Company name

MASISA

Project number

13662-01

Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.

E&S category
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B

Country

Chile

Sector

Manufacturing

Status

In implementation

Disclosed date

11/17/2021

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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12/16/2021

Approval date

12/16/2021

Signed date

12/20/2021

Sponsoring entity

N/A

Team leader

Jimenez Grandes, Gabriel

Investment type

Syndicated amount

N/A

Financing amount

USD $ 35,000,000

Currency

USD

Project scope and objective

The proposed transaction consists of granting Masisa S.A. (“Masisa” or “the Company”) a loan with a tenor of five years to finance the Company’s 2021-2023 capital investment plan and working capital for up to US$ 35 million. These investments include launching new lines to increase Masisa’s production capacity, investment in equipment and technology to gain efficiency in the production process, and non-discretionary investments for operational maintenance of its plants. The loan will be funded with IDB Invest resources.

Masisa works to transform spaces and inspire its customers through design, quality and sustainability in the production and sale of furniture and interior design solutions, with products including light and UL MDF, MDP, melamine, lining, and other added-value boards.

 

From its industrial operations in Chile, Mexico and Venezuela, forests in Argentina, and sales offices in Peru, Ecuador and Colombia, it aims to transform spaces, reaching customers from all over the world in more than 30 markets across South, Central, and North America, and Asia.

 

Its products are developed under responsible production standards, from the forest to the end product, in compliance with TSCA Title VI, CARB 2, FSC, and EPA certifications. Masisa is a Chilean publicly traded company that has been in operation since 1960, whose shares are traded on the Santiago Stock Exchange.

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

MASISA - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

327.7 Kb

MASISA - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

122.9 Kb

CLIMATE RISK SCREENING - MASISA - 13662-01-COMBINED

2.2 Mb

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Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Paola Lara Abdo

POSITION

Investor Relations

PHONE NUMBER

+56 2 23506026

EMAIL

paola.lara@masisa.com

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices