Colombia ha despegado como un destino para la inversi\u00f3n extranjera en los \u00faltimos a\u00f1os a medida que el pa\u00eds se beneficia de la disminuci\u00f3n del conflicto en contra del movimiento guerrillero -el que se ha extendido por d\u00e9cadas- y de un auge en la industria petrolera.<\/p>\n
Con una poblaci\u00f3n que casi triplica la de Chile (47 millones de habitantes) y una econom\u00eda de r\u00e1pido desarrollo, Colombia parece una apuesta segura para las compa\u00f1\u00edas chilenas que buscan mercados de r\u00e1pido crecimiento para sus productos. El a\u00f1o pasado, la naci\u00f3n correspondi\u00f3 a US$5.320 millones, o 62% de la inversi\u00f3n extranjera r\u00e9cord que registraron el a\u00f1o pasado las empresas chilenas.<\/p>\n
Con la excepci\u00f3n de inversiones importantes en centrales hidroel\u00e9ctricas a mediados de la d\u00e9cada de los 90 que realizaron las empresas chilenas de generaci\u00f3n el\u00e9ctrica Endesa Chile y AES Gener, Colombia ha estado casi completamente ausente de las inversiones extranjeras de Chile en las \u00faltimas dos d\u00e9cadas.<\/p>\n
Hoy en d\u00eda, no obstante, el sector minorista hace fuertes inversiones. La adquisici\u00f3n por US$2.630 millones que hizo Cencosud de los activos colombianos del gigante minorista franc\u00e9s Carrefour, la segunda mayor cadena del pa\u00eds, correspondi\u00f3 a casi la mitad de la inversi\u00f3n chilena en Colombia el a\u00f1o pasado. La cadena de tiendas por departamento Falabella y el operador de centros comerciales Parque Arauco ya est\u00e1n presentes en el pa\u00eds, mientras que Ripley -uno de los principales rivales de Falabella- inaugur\u00f3 en abril sus primeras tiendas ah\u00ed.<\/p>\n
\u201cLas tiendas en Colombia son extremadamente importantes para nuestros planes de crecimiento\u201d, se\u00f1al\u00f3 Hern\u00e1n Uribe, uno de los directores de Ripley, en la junta anual de accionistas de la compa\u00f1\u00eda celebrada en abril.![](\"\/sites\/default\/files\/Hernan_Uribe-special_report_0.jpg\")
<\/p>\n
La banca tambi\u00e9n es un sector prometedor que parece listo para beneficiarse de los crecientes ingresos de los colombianos. En el 2012, el grupo financiero chileno CorpBanca cerr\u00f3 un acuerdo para comprar la operaci\u00f3n colombiana del espa\u00f1ol Banco Santander por US$1.230 millones.<\/p>\n
El sector de energ\u00eda es otro mercado interesante para las compa\u00f1\u00edas chilenas. Los tres principales distribuidores de gas licuado de petr\u00f3leo (GLP) de Chile -Lipigas, Abastible y Gasco- han establecido empresas en Colombia, en donde se espera que la demanda de combustibles aumente a medida que las familias buscan alternativas m\u00e1s limpias a las estufas a le\u00f1a y la parafina. Los chilenos tambi\u00e9n esperan obtener utilidades de la consolidaci\u00f3n de la industria local. Gasco, que ha adquirido siete firmas que controlan cerca de un quinto del mercado, ahora planea buscar sinergias entre ellas, mediante el cierre de ocho de sus diecis\u00e9is plantas de llenado.<\/p>\n
Sin embargo, el movimiento m\u00e1s grande ha sido la toma de control gradual que ha hecho el conglomerado chileno Copec del distribuidor colombiano de combustibles Terpel. Limitado por las normas de competencia en Chile, en donde ya controla casi el 60% del mercado de estaciones de servicio, el acuerdo da al conglomerado forestal y de combustibles exposici\u00f3n no solo a Colombia, sino que tambi\u00e9n a Ecuador, Per\u00fa, Panam\u00e1 y M\u00e9xico.<\/p>\n
Shopping en Per\u00fa<\/strong><\/p>\n La avalancha de firmas chilenas que ingresan a Colombia se produce luego de su incursi\u00f3n durante la \u00faltima d\u00e9cada en el sector minorista del vecino Per\u00fa, donde Falabella, FASA y Cencosud ya son operadores establecidos. Ahora firmas de otros sectores de la econom\u00eda chilena est\u00e1n apuntando a la creciente clase media de Per\u00fa.<\/p>\n Donde las firmas minoristas alguna vez llevaron la delantera, ahora hay otros que siguen su ejemplo. A Parque Arauco y al tambi\u00e9n operador de centros comerciales Mall Plaza se han unido compa\u00f1\u00edas constructoras como Echeverr\u00eda Izquierdo y SalfaCorp. Ahora Vidrios Lirqu\u00e9n, que fabrica cristal laminado para el sector de la construcci\u00f3n, est\u00e1 planeando invertir US$200 millones en una nueva planta de vidrio en Per\u00fa.<\/p>\n En abril, el operador de telefon\u00eda m\u00f3vil Entel anunci\u00f3 la adquisici\u00f3n de Nextel Per\u00fa por US$400 millones. La compa\u00f1\u00eda ha estado presente en el pa\u00eds desde el 2001, manejando un call-center y una operaci\u00f3n de telecomunicaciones business-to-business, pero el acuerdo de Nextel incluye una licencia para proveer servicios de telefon\u00eda celular. Adem\u00e1s de los crecientes ingresos de los peruanos, la compa\u00f1\u00eda ve una oportunidad en romper el c\u00f3modo duopolio controlado por Claro y Movistar, sus rivales en Chile.<\/p>\n \u201cHay solo dos grandes operadores en el mercado y creemos que eso significa que hay espacio para nosotros\u201d, dijo el presidente de Entel, Juan Hurtado, en la junta general anual 2013 de la compa\u00f1\u00eda.<\/p>\n AFP Habitat, uno de las mayores administradoras privadas de fondos de pensiones de Chile, tambi\u00e9n entr\u00f3 a Per\u00fa, tras ganar recientemente una licitaci\u00f3n por todos los nuevos afiliados que se unan al sistema de pensiones en los pr\u00f3ximos dos a\u00f1os mediante la oferta de menores comisiones que la competencia.<\/p>\n Con alrededor de 350.000 personas uni\u00e9ndose a la fuerza laboral cada a\u00f1o, los peruanos pronto podr\u00edan corresponder a cerca de un tercio de los afiliados de Habitat, sin contar a quienes sean persuadidos de cambiar de proveedores de pensi\u00f3n por las menores comisiones. \u201cEl nivel de afiliaci\u00f3n a\u00fan es bajo comparado con el tama\u00f1o de la fuerza laboral de modo que sistema de pensiones a\u00fan est\u00e1 en la etapa de desarrollo que, junto con el nivel de crecimiento econ\u00f3mico y empleo, ofrece un panorama interesante\u201d, sostuvo el presidente de AFP Habitat, Jos\u00e9 Antonio Guzm\u00e1n.<\/p>\n No obstante, para las compa\u00f1\u00edas chilenas que buscan un crecimiento espectacular, Brasil sigue siendo el objetivo. Con una poblaci\u00f3n cercana a los 194 millones de personas y con la sexta mayor econom\u00eda del mundo, el pa\u00eds ofrece a los inversionistas chilenos oportunidades y desaf\u00edos de otro nivel.<\/p>\n Hasta ahora, entre las firmas minoristas chilenas solo Cencosud se ha atrevido a lanzarse, lo que ha incrementado su negocio de supermercados en el pa\u00eds desde el 2007. Su adquisici\u00f3n de la cadena de supermercados Prezunic en el 2011 lo convirti\u00f3 en el cuarto mayor operador de Brasil, muy cerca de los gigantes Carrefour, Walmart y P\u00e3o de A\u00e7\u00facar.<\/p>\n Otra compa\u00f1\u00eda que est\u00e1 tratando de crecer en Brasil es la gigante forestal Empresas CMPC. A fines del a\u00f1o pasado, la firma aprob\u00f3 una inversi\u00f3n de US$2.100 millones para construir una segunda planta de celulosa en Rio Grande do Sul, la m\u00e1s grande en la historia de la compa\u00f1\u00eda. El proyecto Guaiba II incrementar\u00e1 la producci\u00f3n de celulosa de la empresa a m\u00e1s de cuatro millones de toneladas al a\u00f1o, lo que convertir\u00e1 a CMPC en el segundo mayor productor mundial de celulosa superando al rival local Arauco.<\/p>\n Dulces Uvas<\/strong><\/p>\n Empresas cada vez m\u00e1s globalizadas tambi\u00e9n est\u00e1n apuntando a oportunidades fuera de la regi\u00f3n y hoy en d\u00eda el destino m\u00e1s popular para la inversi\u00f3n extranjera chilena fuera de Am\u00e9rica del Sur es Estados Unidos.<\/p>\n Desde 1990, la inversi\u00f3n chilena en Estados Unidos ha sumado un total de US$4.820 millones, o un 7% del total, mientras que el a\u00f1o pasado el pa\u00eds super\u00f3 a Argentina para ubicarse en el cuarto lugar despu\u00e9s de Colombia, Brasil y Per\u00fa. La reciente crisis financiera en Estados Unidos tambi\u00e9n ha ofrecido a los inversionistas chilenos la oportunidad de hacerse de activos a precios competitivos.<\/p>\n Una de las mayores adquisiciones ha sido la compra de por US$238 millones que hizo Concha y Toro de Fetzer Vineyards, uno de los m\u00e1s grandes productores de vino en Estados Unidos.<\/p>\n La mayor vi\u00f1a de Chile vio una oportunidad en Fetzer debido a que, si bien es una marca reconocida en Estados Unidos, hab\u00eda perdido su brillo a manos de los antiguos due\u00f1os Brown-Forman, firma que es m\u00e1s conocida por producir su whiskey Jack Daniel\u2019s.<\/p>\n \u201cEncontramos una compa\u00f1\u00eda que hab\u00eda perdido un poco su impulso y nuestra misi\u00f3n es demostrar nuestro compromiso con la industria y recuperar a los clientes de Fetzer\u201d, dice Blanca Bustamante, gerente de comunicaciones corporativas de Concha y Toro. Durante el 2012, la compa\u00f1\u00eda se concentr\u00f3 en desarrollar un exclusivo equipo de ventas a nivel nacional para la vi\u00f1a y moderniz\u00f3 sus marcas. Y los resultados est\u00e1n siendo claros. Las ventas en el \u00faltimo trimestre del a\u00f1o pasado registraron un incremento interanual del 12,3%, lo que se compara con la ca\u00edda del 23,1% de los primeros tres meses del 2012 respecto del mismo lapso de un a\u00f1o antes.<\/p>\n Si bien Estados Unidos puede ser el mayor mercado del mundo para el vino, est\u00e1 lejos de alcanzar la madurez, afirma Bustamante. La demanda anual ha crecido m\u00e1s de un 50% desde el 2000 a 360 millones de cajas.<\/p>\n M\u00e1s a\u00fan, en lugar de canibalizar las ventas de Concha y Toro en Estados Unidos, Fetzer las complementa. Mientras que las exportaciones de Concha y Toro se concentran en el noreste de Estados Unidos, Fetzer es m\u00e1s conocido en California – su estado natal- y los mercados vecinos.<\/p>\n Unirse a Concha y Toro, uno de los mayores grupos vitivin\u00edcolas del mundo, tambi\u00e9n ha abierto nuevos mercados de exportaci\u00f3n para la gama de productos de Fetzer. La marca Bonterra de vinos org\u00e1nicos de la compa\u00f1\u00eda ha tenido particular \u00e9xito entre los amantes del vino con conciencia ambientalista de Escandinavia, destaca Bustamante.<\/p>\n Construyendo Presencia en Estados Unidos<\/strong><\/p>\n El a\u00f1o pasado tambi\u00e9n fuimos testigos de dos de las m\u00e1s grandes inversiones de la historia realizadas por compa\u00f1\u00edas chilenas en la mayor econom\u00eda del mundo. La gigante forestal Arauco continu\u00f3 expandiendo su negocio maderero norteamericano con la adquisici\u00f3n por US$242 millones de la canadiense Flakeboard, firma que controla cinco plantas en Estados Unidos, luego de comprar en 2011 una planta de aglomerado en Moncure, Carolina del Norte, por US$56 millones de manos de Uniboard.<\/p>\n Otra firma forestal que est\u00e1 apuntando a oportunidades en Estados Unidos es el productor de tableros de madera Masisa. Tras la reciente adquisici\u00f3n del productor mexicano Rexcel, planea triplicar su producci\u00f3n anual de tableros en M\u00e9xico a cerca de 450.000 metros c\u00fabicos en los pr\u00f3ximos a\u00f1os, no solo para satisfacer la demanda local donde el consumo per c\u00e1pita sigue siendo hist\u00f3ricamente bajo, sino que tambi\u00e9n para exportar dentro de Am\u00e9rica del Norte.<\/p>\n \u201c[M\u00e9xico] es una buena plataforma desde donde atender otros mercados tales como el de Estados Unidos, en donde la demanda est\u00e1 creciendo de manera estable\u201d, afirma el gerente general de Masisa, Roberto Salas. Otro importante inversionista en Estados Unidos ha sido Molymet. Siendo ya una de las compa\u00f1\u00edas m\u00e1s globalizadas de Chile con plantas en B\u00e9lgica, China, Alemania y M\u00e9xico, la firma anunci\u00f3 el a\u00f1o pasado una inversi\u00f3n de US$390 millones en la minera con sede en Colorado Molycorp. Molymet, que controla un tercio de la oferta mundial de molibdeno, espera que el acuerdo le d\u00e9 exposici\u00f3n al creciente mercado de tierras raras, el que es estrechamente controlado por China.<\/p>\n La reciente ca\u00edda de las acciones mineras y los cambios en la pol\u00edtica comercial china hundieron el precio de las acciones de Molycorp, lo que forz\u00f3 a Molymet a dar por perdida parte de la inversi\u00f3n. No obstante, ha redoblado su apuesta en tierras raras, aprovechando el precio m\u00e1s barato de las acciones para aumentar su participaci\u00f3n en la firma al 20%.<\/p>\n Otro posible inversionista chileno en Estados Unidos es Antofagasta Minerals, que est\u00e1 tratando de desarrollar el yacimiento de cobre y n\u00edquel Twin Metals en el noreste de Minnesota. Sin embargo, el proyecto se encuentra en una etapa inicial de desarrollo y cualquier oportunidad descubierta en Estados Unidos tendr\u00e1 que competir por inversi\u00f3n con proyectos de exploraci\u00f3n en Chile y alrededor del mundo.<\/p>\n La cartera de proyectos de Antofagasta refleja una tendencia entre las empresas chilenas de buscar oportunidades a nivel mundial. A medida que las compa\u00f1\u00edas chilenas se han expandido, han superado su limitado mercado local y buscado cada vez m\u00e1s oportunidades a lo largo de Am\u00e9rica. La pr\u00f3xima etapa ver\u00e1 a un creciente n\u00famero expandirse m\u00e1s all\u00e1 de la regi\u00f3n para convertirse en empresas verdaderamente globales.<\/p>\n <\/p>\n Last year was a record for foreign investment in Chile in every sense. Not only did inflows of foreign direct investment hit a record US$30.32 billion, up 32.2% from 2011, but outbound foreign investment \u2013 investment by Chilean firms in countries other than Chile \u2013 also hit a historic high of US$8.55 billion, a rise of 47% from 2011 and beating the previous record of US$6.35 billion set 15 years earlier.<\/p>\n Constrained by Chile\u2019s small size, and flush with cash available at relatively low interest rates, Chilean firms are seeking bargains in foreign markets. Following the 2008 financial crisis and the debt crisis in the Eurozone, such opportunities are easier to find. Hit by miserable growth and debt problems at home, many<\/p>\n European firms are looking to sell valuable assets in South America to bolster their weak balance sheets.<\/p>\n But while the size and scope of Chilean foreign investment has never been larger, Chilean companies remain heavily concentrated in a handful of South American neighbors. Brazil, Colombia and Peru account for more than 70% of the US$27.69 billion that Chilean firms have invested abroad during the last five years.<\/p>\n That should come as no surprise. Trailing Chile economically, these three countries have undergone huge transformations over the last decade or so, with the development of stable democracies and sensible economic and social policies, which have allowed their economies to expand while offering investors, from Chile and elsewhere, a new level of security and opportunity.<\/p>\n But that level of concentration could be cause for concern. For now, rising incomes and stable political scenes make Brazil, Colombia and Peru look like safe bets for investors. But a slowdown in global growth, a slump in commodity prices or a burst of inflation could quickly reorder the political situation, and makes things a lot less comfortable for foreign firms.<\/p>\n Chilean investors have had their fingers burnt before. In the decade before its 2001 financial meltdown, Argentina accounted for more than 40% of Chilean investment abroad and the country still represents almost a quarter (23.6%) of all Chilean foreign investment undertaken between 1990 and 2012.<\/p>\n But after 2001, the pace of Chilean investment in Argentina slowed dramatically, largely in response to the changing economic and political outlook. Chilean companies have found themselves suffering the brunt of growing state intervention in the economy. Caps on electricity tariffs have forced Endesa Chile to write off some of its investment in power plants while Cencosud has found itself on the sharp end of Buenos Aires\u2019 attempt to control consumer prices.<\/p>\n Argentina\u2019s proximity and close ties with Chile mean that it will always attract significant investment. Last year, Chilean firms invested US$540 million in the country. But despite Argentina\u2019s strong growth over the last decade, investment has never recovered to 1990s levels and accounted for less than 6% of total Chilean investment since 2008.<\/p>\n As a result, a growing number of Chilean companies are seeking opportunities elsewhere in the region and even further afield, either driven by the unique needs of their businesses, new opportunities or in the quest to turn their businesses into truly global operations.<\/p>\n The risk is wanting to stay<\/strong><\/p>\n Colombia has taken off as a foreign investment destination in recent years as the country benefits from the winding down of the decades-long conflict against guerilla movements and a boom in its oil industry.<\/p>\n With a population almost three times that of Chile (47 million inhabitants) and a rapidly developing economy, Colombia seems a sure bet for Chilean companies seeking rapidly growing markets for their products. Last year, it accounted for US$5.32 billion, or 62% of last year\u2019s record foreign investment by Chilean firms.<\/p>\n Barring major investments in hydroelectric plants in the mid-1990s by Chilean power generation companies Endesa Chile and AES Gener, Colombia has been almost completely absent from Chile\u2019s foreign investments over the last two decades.<\/p>\n Today, however, retail is the biggest spender. Cencosud\u2019s US$2.63 billion acquisition of the Colombian assets of French retail giant Carrefour, the country\u2019s second largest chain, accounted for almost half of Chilean investment in Colombia last year. Department store chain Falabella and mall operator Parque Arauco are already present in the country, while Ripley, one of Falabella\u2019s main rivals, opened its first stores there in April. \u201cThe stores in Colombia are extremely important to our growth plans,\u201d said Hern\u00e1n Uribe, one of Ripley\u2019s directors, at the company\u2019s annual shareholders\u2019 meeting in April.<\/p>\n Banking is also a promising sector that looks set to benefit from Colombians\u2019 rising incomes. In 2012, Chilean financial group CorpBanca closed a deal to buy the Colombian business of Spain\u2019s Banco Santander for US$1.23 billion.<\/p>\n Energy is another interesting market for Chilean companies. All three of Chile\u2019s main LPG distributors – Lipigas, Abastible and Gasco – have built up businesses in Colombia, where demand for the fuel is expected to rise as families seek cleaner alternatives to woodstoves and paraffin. The Chileans also hope to profit from the consolidation of the local industry. Gasco, which has acquired seven firms controlling around a fifth of the market, now plans to seek synergies between them, by closing eight of its 16 filling plants.<\/p>\n But the largest move has been Chilean fuel and forestry conglomerate Copec\u2019s gradual takeover of Colombian fuel distributor Terpel. Limited by competition rules at home, where it already controls almost 60% of the service station market, the deal gives Copec exposure not only to Colombia, but also to Ecuador, Peru, Panama and Mexico.<\/p>\n Shopping in Peru<\/strong><\/p>\n The rush of Chilean firms into Colombia follows their incursion into neighboring Peru\u2019s retail sector over the last decade, where Falabella, FASA and Cencosud are already established operators. Now firms from other sectors of the Chilean economy are eyeing Peru\u2019s growing middle class.<\/p>\n Where retailers once led, others are following. Parque Arauco and fellow mall operator Mall Plaza been have joined by construction firms like Echeverr\u00eda Izquierdo and SalfaCorp. Now Vidrios Lirquen, which produces sheet glass for the construction sector, is planning to invest US$200 million in a new glass plant in Peru.<\/p>\n In April, mobile phone operator Entel announced the acquisition of Nextel Peru for US$400 million. The company has been present in the country since 2001, operating a call-center and a business-to-business telecommunications operation, but the Nextel deal includes a license to provide cellular telephony services.<\/p>\n As well as Peruvians\u2019 rising income, the company sees an opportunity in breaking the cozy duopoly controlled by Claro and Movistar, its rivals in Chile.<\/p>\n \u201cThere are just two big operators in the market and we think that means there is space for us,\u201d said Entel President Juan Hurtado at the company\u2019s 2013 annual general meeting.<\/p>\n AFP Habitat, one of Chile\u2019s largest private pension fund administrators, has also broken into Peru, recently winning a tender for all new affiliates who join the pensions system over the next two years by offering lower commissions than the competition.<\/p>\n With around 350,000 individuals joining the workforce annually, Peruvians could soon represent around a third of Habitat\u2019s affiliates, not counting those who are enticed to switch pension providers by the lower tariffs. \u201cThe level of affiliation is still very low compared to the size of the workforce so the pension system is still in the development stage which, together with the level of economic growth and employment, offers an interesting outlook,\u201d said AFP Habitat President Jos\u00e9 Antonio Guzm\u00e1n.<\/p>\n But for Chilean companies seeking stellar growth, Brazil remains the target. With a population of almost 194 million and the world\u2019s sixth largest economy, the country offers Chilean investors opportunities and challenges on another scale.<\/p>\n So far, among Chilean retailers only Cencosud has dared to take the plunge, which has been building up its supermarket business in the country since 2007. Its acquisition of the Prezunic supermarket chain in 2011 made it Brazil\u2019s fourth largest operator, close on the heels of giants Carrefour, Walmart and P\u00e3o de A\u00e7\u00facar.<\/p>\n Another company seeking scale in Brazil is forestry giant Empresas CMPC. Late last year, the firm approved a US$2.1 billion investment to build a second pulp mill in Rio Grande do Sul, the largest in its history. The Guaiba II project will increase the company\u2019s pulp output to over four million tons a year, making CMPC the world\u2019s second biggest pulp producer ahead of local rival Arauco.<\/p>\n Sweet grapes<\/strong><\/p>\n Increasingly globalized companies are also eyeing opportunities beyond the region, and today the most popular destination for Chilean foreign investment outside South America is the United States.<\/p>\n Since 1990, Chilean investment in the US has totaled US$4.82 billion, or 7% of the total, while last year it overtook Argentina to rank fourth behind Colombia, Brazil and Peru. The recent financial crisis in the US has also offered Chilean investors the opportunity to snap up assets at competitive prices.<\/p>\n One of the biggest acquisitions has been Concha y Toro\u2019s US$238 million purchase of Fetzer Vineyards, one of the biggest wine producers in the US.<\/p>\n Chile\u2019s biggest wine producer saw an opportunity in Fetzer as, although it is a well-known brand in the US, its star had faded at the hands of former owners Brown-Forman, which is best known for producing Jack Daniel\u2019s whiskey. \u201cWe found a company that had lost its momentum a little and our mission is to prove our commitment to the industry and win back Fetzer\u2019s clients,\u201d said Blanca Bustamante, head of corporate communications at Concha y Toro.<\/p>\n During 2012, the company focused on developing a dedicated nationwide sales team for the winery and overhauling its brands. And the results are becoming clear. Sales in the final quarter of last year were up 12.3% year-on-year, against a decline of 23.1% in the first three months of 2012 compared to the same period a year earlier.<\/p>\n Although the US may be the world\u2019s largest market for wine, it is far from reaching maturity, says Bustamante. Annual demand has grown by more than 50% since 2000 to 360 million cases.<\/p>\n Moreover, rather than cannibalize Concha y Toro\u2019s sales to the US, Fetzer compliments them. While Concha y Toro\u2019s exports are focused on the US Northeast, Fetzer is best known in its home state of California and neighboring markets.<\/p>\n Teaming up with Concha y Toro, one of the world\u2019s biggest wine groups has also opened new export markets for the Fetzer stable of products. The company\u2019s Bonterra brand of organic wines has been a particular hit among Scandinavia\u2019s environmentally minded wine lovers, points out Bustamante.<\/p>\n Building a US presence<\/strong><\/p>\n Last year also saw two of the biggest ever investments by Chilean companies in the world\u2019s largest economy. Forestry giant Arauco continued to expand its North American timber business with the US$242 million acquisition of Canada\u2019s Flakeboard, which controls five plants in the US, and followed its 2011 purchase of a board plant in Moncure, North Carolina, for US$56 million from Uniboard.<\/p>\n Another forestry firm eyeing opportunities in the US is wood board producer Masisa. After the recent acquisition of Mexican producer Rexcel, it plans to triple annual board production in Mexico to around 450,000 cubic meters over the coming years, not only to meet the domestic demand where per capita consumption remains historically low, but also to export within North America. \u201c[Mexico] is a good platform from which to serve other markets such as the United States, where demand is growing steadily,\u201d said Masisa CEO Roberto Salas.<\/p>\n Another major investor in the US has been Molymet. Already one of Chile\u2019s most globalized companies with plants in Belgium, China, Germany and Mexico, the company last year announced a US$390 million investment in Colorado-based mining firm Molycorp. Molymet, which controls a third of the world\u2019s supply of molybdenum, hopes the deal will give it exposure to the growing market for rare earths, which is tightly-controlled by China.<\/p>\n The recent slump in mining stocks and changes in Chinese trade policy have sunk Molycorp\u2019s share price, forcing Molymet to write off some of the investment. But it has doubled down its wager on rare earths, taking advantage of the cheaper share price to increase its stake in the firm to 20%.<\/p>\n Another potential Chilean investor in the US is Antofagasta Minerals, which is looking to develop the Twin Metals copper and nickel deposit in Northeast Minnesota. The project, however, is at an early stage of development and any opportunities uncovered in the US will have to compete for investment with exploration projects in Chile and around the world.<\/p>\n Antofagasta\u2019s portfolio of projects reflects a trend among Chilean companies to seek opportunities worldwide. As Chilean businesses have expanded, they have outgrown their limited domestic market and increasingly sought opportunities throughout the Americas. The next stage will see a growing number expand beyond the region to become truly global businesses.<\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" <\/p>\n El a\u00f1o pasado marc\u00f3 un r\u00e9cord para la inversi\u00f3n extranjera en Chile en todo sentido. No solo los ingresos de inversi\u00f3n extranjera directa alcanzaron un r\u00e9cord de US$30.320 millones, un alza del 32,2% respecto del 2011, sino que la inversi\u00f3n extranjera saliente \u2013la inversi\u00f3n realizada por firmas chilenas en pa\u00edses distintos a Chile- tambi\u00e9n lleg\u00f3 a un m\u00e1ximo hist\u00f3rico de US$8.550 millones, lo que corresponde a un incremento del 47% respecto del 2011 y supera el r\u00e9cord previo de US$6.350 millones establecido 15 a\u00f1os antes.<\/p>\n <\/p>\n Last year was a record for foreign investment in Chile in every sense. Not only did inflows of foreign direct investment hit a record US$30.32 billion, up 32.2% from 2011, but outbound foreign investment \u2013 investment by Chilean firms in countries other than Chile \u2013 also hit a historic high of US$8.55 billion, a rise of 47% from 2011 and beating the previous record of US$6.35 billion set 15 years earlier.<\/p>\n <\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"template":"","news_tax":[],"user_type":[],"class_list":["post-5017","news","type-news","status-publish","hentry"],"acf":[],"yoast_head":"\n![](\"\/sites\/default\/files\/FOTO_Jose_Antonio_GUZMAN-special_report_0.jpg\")
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