Mitsui to Begin Wood-Chip Business in Chile
Japan Economic Newswire -- TOKYO, JAPAN -- August 13, 2012 -- Mitsui & Co. said Monday it will set up a joint venture in Chile to produce wood chips for export, amid growing consumption of paper products in Asia.The new company, Transpacific Fibre S.A., will be set up in September in the Chilean city of Temuco. It will be owned 49 percent by Mitsui, a major Japanese trading company, and the remainder by Industrial Bosques Cautin S.A., an arm of Bosques Cautin S.A. that grows trees.
The new firm will process eucalyptus trees into wood chips for export, according to Mitsui.
Mitsui has been growing trees in Australia to process them into wood chips since the 1980s to market them to Japanese and Chinese papermakers.
(c) 2012 Kyodo News International, Inc.
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