Central Puerto the Argentine capital company that families share Reca, Miguens-Bemberg and Escassany bought several rooms that belonged to Harvard University in Corrientes.
They are some 88,000 hectares and Central Puerto thus becomes the largest forestry company in the country.
The acquiring company is called EVASA and the amount of the transaction has not been disclosed. In turn, Central Puerto is the largest producer of electricity in the country.
EVASA belonged to a Harvard University investment fund that manages three companies: Empresas Verdes Argentina, Las Misiones and Estancia Celina. All of them, geographically located in the center of the province of Corrientes.
“This acquisition represents a major milestone for us and for our forest development strategy, which we believe is essential for Argentina’s growth potential. This sector can be a source of future business opportunities, linked to the processing and industrialization of wood, carbon credits and biomass energy generation,” said Fernando Bonnet, general manager of Central Puerto.
“Central Puerto is a national capital company. Based on the impetus of its main shareholders – Guillermo Reca, the Miguens-Bemberg family and Eduardo Escassany – it strengthens the diversification of companies and continues to expand in the forestry sector,” they said in a declaration. Due to the previous acquisition of the forestry activities of the Chilean company Masisa in Argentina, Central Puerto becomes the the main Argentinian company in the forestry sector with over 160,000 hectares.
Argentina has one of the highest growth rates not only in the region, but in the world: trees grow about ten times faster than in the northern hemisphere. That is why the forestry sector provides one of the companies with the greatest competitive advantages and the greatest growth potential as a generator of foreign exchange in Argentina.
central port It has 14 generating plants of various technologies, more than 1,000 employees and reaches an energy share of 16.2%. It currently has an installed generation capacity of 7,100 MW.
Charles Arterburn is a seasoned business journalist for News Rebeat, where he provides comprehensive coverage of the latest trends and developments in the world of finance and economics.