Chilean timber company Masisa Wednesday announced it had liquidated all its assets in Argentina to abandon all its operations in the highly volatile neighboring country. Masisa sold its share in Forestal Argentina S.A. and Masisa Forestal S.A., in addition to 72,000 hectares of land for US$69,364,162, it was reported in Santiago. However, the sale will have a negative impact on Masisa's equity, according to Diario Financiero, because due to exchange rate issues and the devaluation of the Argentine peso, the company recognizes losses of US$ 245 million. ...
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