Chile Winemaking, Retail Bring Investment Abroad to 14-Year High
Chile’s direct investment abroad reached $5.82 billion in 2011, the highest level since 1997, as companies such as winemaker Vina Concha y Toro SA and industrial group Sigdo Koppers SA (SK) expanded overseas.
Foreign investment leaped 27 percent from 2010, the Foreign Relations Ministry said in a report posted on its website yesterday. Peru led the investment destinations with $1.16 billion, followed by Uruguay and Colombia with $950 million and $937 million respectively, the ministry said.
Concha y Toro, which makes the Casillero del Diablo brand of wine, last year completed its first U.S. acquisition, buying California winery Fetzer Vineyards. Sigdo Koppers agreed to purchase Belgium-based grinding products company Magotteaux SA, Chile’s largest ever acquisition in the European Union, while retailer Empresas La Polar SA (LAPOLAR) expanded in Colombia and Empresas Copec SA (COPEC) invested in a pulp plant in Uruguay.
To contact the reporter on this story: Randall Woods in Santiago at email@example.com.
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