Business / Published August 26, 2019

Empresas Copec releases Second Quarter 2019 Earnings


Profit reached MMUS$ 135, 59.6% lower than in 2Q18, as a result of a MMUS$ 302 drop in its operating result, associated with a lower performance of Arauco against a backdrop of downward pulp prices.

Highlights:

  • Empresas Copec moves forward in its MMUS$ 2,766 Investment Plan for 2019.
  • MAPA, Modernization and Expansion of Arauco Mill project, is 13% complete, according to schedule. In July 2019, civil and electromechanical work began, and the assembly of the equipment is expected to start in September. The earthworks were successfully completed.
  • The Textile Pulp Project continues its course, 85% complete as of July 2019, including Engineering, procurement and construction. Estimated investment is approximately US$ 195 million and it is expected to begin operating at the end of 2019.
  • As planned, the Mina Justa Project construction is 45% complete by the end of July. Currently, 5,257 people participate in its development, demanding an investment of around US$ 1.6 billion, and is expected to come online by the end of next year

Press Release ESP PRENSA

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