Sep 28, 2007. /Lesprom Network/. MASISA S.A., in an ordinary board meeting held on September 26, 2007 approved the construction of an MDP mill in the city of Montenegro, in the state of Rio Grande do Sul in Brazil. This investment envisages production of 550 000 cubic meters of MDP a year and includes a melamine line with a capacity of 220 000 cubic meters a year. The project totals an industrial investment of approximately $119 million. "This investment is a great opportunity for Masisa to boost its presence as a major player in the Brazilian market, virtually doubling our production capacity in the country," said Enrique Cibie, Masisa's CEO. The start-up of this new project, which will mainly supply the Brazilian market, is scheduled for late 2009. Masisa Brasil will complete its product mix with this new MDP production line, incorporating the full offering of wood panels produced by the Company. "The company is constantly analyzing different opportunities that arise in the region to grow, maintain and consolidate its leadership in each of the countries where it is present," Mr. Cibie said. Masisa currently has two plants in Brazil, a distribution network of 40 "Placacentros" (licensed retail outlets) and approximately 17 000 hectares of forest holdings. Masisa is a leading furniture and interior architecture board production and marketing company in Latin America. It has forest assets throughout most of the region, thereby guaranteeing the raw material for the board business. Masisa is a publicly traded corporation and its shares are traded on the Santiago Stock Exchange and the New York Stock Exchange by means of ADRs. The company had total sales of $886.5 million in 2006.