Founded in 1959 as part of SONAE Group, Sonae Indústria quickly became one of the largest Portuguese manufacturers of wood-based panels. Located in the north of Portugal, the company has undergone an expansion process through a combination of organic growth and acquisitions, and has become one of the industry leaders with business units in Europe, North America and South Africa and a wide variety of products for the furniture, construction and decoration industries aiming to improve people’s lives. In May 2016, Sonae Indústria completed a partnership with Arauco, a company with headquarters in Chile and one of the largest producers of forest resources. As a result of this strategic partnership, Sonae Indústria holds a shareholding of 50% in Sonae Arauco. Additionally, Sonae Indústria retained the full ownership of the wood-based panels business in North America, operated by Tafisa Canada, of the Laminates & Components business and some real estate assets in Europe.