Sonae Indústria, SGPS, S.A. announced that it has entered into a strategic partnership agreement, with Inversiones Arauco Internacional, Limitada. This agreement envisages the creation of a 50/50 joint-venture involving the existing European and South African wood based panels and related operations of Sonae Indústria, namely all its production facilities of wood based panels, chemicals and paper impregnation. The planned partnership will be consummated by Arauco subscribing an amount of EUR 137.5 million to a capital increase of Sonae Indústria's subsidiary Tableros de Fibras, S.A., that will be renamed 'Sonae Arauco, S.A.'

This partnership excludes Sonae Indústria's operations in North America and the laminates and components business, which will continue to be fully owned by Sonae Indústria.