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According to Reuters, Chilean wood products manufacturer Masisa will invest nearly $96 million in 2009, mainly on a plant in Brazil and in forestry, a newspaper in Chile quoted new CEO Roberto Salas as saying. Salas said Masisa, which has fired 1,500 workers in the face of global financial crisis, is seeking to reduce its debt and expand in Brazil. He said the company was also open to acquiring "interesting assets" if opportunities arise. Masisa''s shareholders in December approved a $100 million capital increase to pay off short-term debt. Earlier this year the company placed $100 million worth of bonds on the local market, joining a cluster of local companies raising capital via corporate debt issues to avoid seeking financing on crisis-hit global markets. Masisa has operations in Chile, Argentina, Brazil, Venezuela and Mexico.
