Central Puerto Acquires Evasa; Adds 88,000 Hectares To Its Assets And Becomes The Largest Company In The Argentine Forestry Industry; No Financial Terms Disclosed

Author: Happy Mohamed | May 05, 2023 09:17am

With this transaction, it adds 88,000 hectares to its assets and becomes the largest company in the Argentine forestry industry

BUENOS AIRES, ARGENTINA / ACCESSWIRE / May 5, 2023 / Central Puerto, the leading electrical energy producer in Argentina, acquired the forestry company EVASA (belonging to an Investment Fund of Harvard University), that company administers three business entities geographically located in the center of the province of Corrientes: Empresas Verdes Argentina, Las Misiones, and Estancia Celina.

"This acquisition represents a milestone for us and our forestry activity development strategy, which we consider is key in the potential growth of Argentina. This sector can be a source of opportunities for future business, linked to the processing and industrialization of timber, carbon bonds, and energy generation from biomass," stated Fernando Bonnet, CEO of Central Puerto.

Central Puerto is an Argentinian owned company. Boosted by its main shareholders (Guillermo Reca, Miguens-Bemberg family, and Eduardo Escasany), it strengthens business diversification and continues expanding in the forestry sector. Due to the previous acquisition of Masisa forestry assets in Argentina, Central Puerto turned into the main Argentine company in the forestry sector, holding over 160,000 hectares.

Argentina has one of the highest growth rates not only in the region, but in the world: trees grow approximately ten times faster than in the Northern Hemisphere. For this reason, the forestry sector in which Central Puerto continues to expand offers one of the businesses with the highest competitive advantages and the highest growth potential for foreign currency generation in Argentina.

Posted In: CEPU