Oji establishes company to acquire forest plantation in Uruguay

Japan’s Oji Holdings Corporation announces the establishment of Oji Uruguay Forest Company SAS (OUFC) to acquire forest plantation in Uruguay. The new company will buy a plantation straddling the northern Uruguay departments of Tacuarembo and Rivera for 288 million dollars, according to a recent press release.

The acquisition increases the total area of the Oji Holdings group's forest plantations by about 41,000 hectares.

OUFC has also received approval from the Ministry of Livestock, Agriculture and Fisheries (Ministerio de Ganadería, Agricultura y Pesca) and the President’s Office of Uruguay to become the owner of the forest plantation. The current name of OUFC is Oji Uruguay S.A.S., which will be renamed in the future.