Dynea focuses activities in Brazil

Dynea Oy today announced that its subsidiary Dynea AS has sold its 50% share in Brazilian joint venture company Dynea Brasil S.A. to JV partner Arauco do Brasil S.A. Arauco do Brasil S.A. is owned by Chilean Group Arauco, one of the largest forestry enterprises in Latin America in terms of surface area and plantation yield, and the production of market kraft wood pulp, sawn timber and panels. Dynea Brasil S.A. has production sites in Araucária where it produces resins for the panelboard and paper impregnation industries, and in Curitiba, where it produces decorative paper overlays. The joint venture was formed in 1998 to predominantly satisfy Placas do Paraná’s (former name of Arauco do Brasil S.A.) need for high quality resins and overlays, but also to serve the rapidly growing panelboard market in Brazil. Dynea Brasil S.A. has developed its markets relying on Dynea’s technology for resins and formaldehyde production. Arauco do Brasil S.A. is a leading producer of MDF, particleboard and related lumber and forestry products in Brazil. “This transaction will give us resources for expansion in our key growth areas, mainly in Europe and the Asia Pacific region,” says Roger Carlstedt, Dynea President and CEO. “Through this move we focus our activities in South America on our fully owned company Dynea São Paulo Indústria de Resinas Ltda in Brasil,” says Nina Kopola, Dynea Executive Vice President in charge of operations in Europe and South America. “Dynea will continue to help its customers grow by providing value through our leading resins and overlays technology world-wide.” Dynea São Paulo Indústria de Resinas Ltda focuses on producing phenolic resins for a wide variety of industrial applications, serving for example the automotive components industry.