History

 

1934
1940 1960
1970 1980
1980 1990
1986
1989
1992
1994
1996
2000
2003
2005
2006
2007
2009
2010
2011 2017

1934: Founding

On october 31, a group of Chilean bussinessmen established Compañía de Petróleos de Chile S.A to market and distribute fuels in the country.

 

1940 – 1960: Expansión of Business Lines

Copec incorporates new lines of business.

 

In 1941, establishes Sonap and acquires the first tanker-vessel under chilean flag..

 

In 1956, Abastible is established to market and distribute liquid petroleum gas.

 

1957, Sonacol is established by Copec, Enap and Esso Chile, to transport fuels and other oil byproducts through and oil pipeline network. This same year, Copec takes on the representation and distribution of Mobil products in Chile.

 

1970-1980: Diversification

Copec starts its expansion and diversification period toward business areas in with Chile has competitive advantages.

 

n 1976, incorporates Celulosa Arauco and Forestal Arauco. Subsequently, Celulosa Constitución is acquired and a merger rise to Celulosa Arauco y Constitución.

 

In 1980, Copec acquired Pesquera Guanaye Ltda, entering to the fishing sector.

 

1980 – 1990: New Leadership

The world economic crisis had severe effects on the Company. Copec confronted serious financial problems, the most difficult in all of its history.

1980 – 1990: New Leadership

The Angelini group took a controlling interest in Copec after acquiring a 41% shareholding in the company. After a major capital increase, and investment program of ever US$ 1,000 million was launched and the Company’s strategic course was defined.

1980 – 1990: New Leadership

Forestal Arauco becomes the parent company of Arauco’s forestry affiliates in Chile. The Company continued the construction of Arauco II.

1992 – 2000: Relevant Investments

Pesquera Guanaye and Pesquera Iquique merged into Pesquera Iquique-Guanaye S.A., Igemar Empresa Eléctrica Guacolda was also incorporated during these years. Additionally, Compañía Latinoamericana Petrolera Clapsa, with the purpose of exploration for hydrocarbons, and Minera Can-Can, focused on metallic mining.

1990 – 2000: Large Scale Investments

Metrogas is established to market natural gas in the Metropolitan and O’Higgins regions.

1990 – 2000: Relevant Investments

Copec starts a new stage of investments abroad. Arauco ventured into the Argentine market by acquiring Alto Paraná S.A., the owner of one of the main pulp mills in that country. this asset is strategically located, offers a significant growth potential and represents a major step forward in the diversification of the Company’s forestry and industrial holdings.

2000 – 2005: Strategic Focus

The Angelini group took control of Copec by acquiring and additional 30,05% of its stock through AntarChile S.A. The strategic focus was then placed on those sectors where it had clear competitive advantages, sustainable in the long term: energy and natural resources.

2000 – 2005: Strategic Focus

Compañía de Petróleos de Chile Copec S.A. is established as a new affiliate to focus on the liquid fuels and lubricants business. The parent Company is simultaneously transformed into a financial holding, and its corporate name is changed to Empresas Copec S.A.

2005 – 2010: World Scale

The process of internationalization of Arauco is strengthened through the incorporation, this year and in subsequent operations, of plantations and industrial facilities in Brazil, Uruguay and Argentina.

2005 – 2010: World Scale

The Nueva Aldea pulp mill starts up operations. This mill, in addition to one in Valdivia, started up two years before, turned Arauco into one of the main market pulp producers worldwide. Both facilities entail a total investment of US$ 2,6 billion.

2005 – 2010: World Scale

Copec and Abastible strengthened their logistic infrastructure with the terminals for imported Products in Quintero, San Vicente and Mejillones. Empresas Copec and Inversiones Ultraterra established, in equal shares, Sociedad Minera Isla Riesco S.A., with the purpose of exploring and producing coal in the Magallanes Region.

2005 – 2010: World Scale

Arauco and Stora Enso jointly acquired an equal share of forestry assets in Uruguay. This new partnership gives both companies a large growth outlook in the region and assures the supply of resources for the construction of a future pulp mill.

2005 – 2010: World Scale

Copec starts its process of internationalization by acquiring an indirects share of Terpel Colombia. On the other hand, SouthPacific Korp and Pesquera San José merged their operations in the South Central zone.

2011 – 2017: World Scale

Arauco expands to the United States after acquiring the Moncure panel mill and 100% of the shares of the panel company Flakeboard Company Limited, gaining seven panel mills in the United States and Canada. In 2016, acquires 50% of the capital of the Spanish company Tafisa, an affiliate of the Portuguese group Sonae, which manufactures and markets OSB, MDF and PB panels, and sawn wood, through 2 panel plants and a sawmill in Spain; 2 panel plants in Portugal; 4 in Germany and 2 in South Africa.

 

Copec increases its stake in Terpel after takeover bids of Proenergía Internacional and Sociedad de Inversiones en Energía, consolidating a 58% ownership of Terpel. Later, purchases 100% of Mapco Express, Inc., Mapco Fleet, Inc., GDK Bear Paw, LLC, NTI Investments, LLC and Delek Transportation, LLC, Inc., including 348 gas stations in the states of Alabama, Arkansas, Georgia, Kentucky, Mississippi, Tennessee and Virginia. Also, executes a regional agreement with ExxonMobil to produce and distribute Mobil lubricants in Chile, Colombia, Ecuador and Peru, in addition to the operation and marketing of aviation fuels at Lima’s international airport, and the fuel business of ExxonMobil in Colombia and Ecuador.

 

Abastible acquires 51% of the Colombian company Inversiones del Nordeste. Later, in 2016, acquires all shares that the company Repsol had in the Peruvian companies Repsol Gas del Perú S.A. and Repsol Gas de la Amazonía S.A.C., and in the Ecuadorian companies Duragas S.A. and Servicio de Mantenimiento y Personal S.A.

 

Arauco acquires Masisa do Brasil for about US $ 103 million and Masisa’s assets in Mexico for US $ 245 million.