Exhibit 10.6


 


Free
English Translation


 


PERSONNEL
AND ADMINISTRATION SERVICES AGREEMENT (hereinafter “the
Agreement”) executed and entered into by and between Maderas y Sintéticos de
México, S.A. de C.V., (“MADERAS”), hereby represented by Francisco de
Asis Alessandri Rozas and Victor Guillermo Mauricio Maruri Vallespir
and by, Maderas y Sintéticos Servicios, S.A. de C.V. (hereinafter “MASISA
SERVICIOS”), hereby represented by Ernesto Franco Camacho and
Victor Guillermo Mauricio Maruri Vallespir, in accordance with the
following:


 


REPRESENTATIONS


 


I.                                         MASISA SERVICIOS declares through its legal
representative:


 


a)              WHEREAS
MASISA SERVICIOS is a mercantile company organized in accordance with the laws
of the Mexican Republic, as evidenced in public deed number 3,775 dated August 23,
2001, notarized by Mr. Arturo Adolfo Llorente Martínez, Notary Public
number 205 of and for the Federal District, same that was registered in the
Public Registry of Property and Commerce under mercantile folio number 282,080.


 


b)             WHEREAS
its legal representatives have sufficient powers necessary to execute this
Agreement, as evidenced in public deed number 4,854 dated March 14, 2003,
notarized by Mr. Arturo Adolfo Llorente Martínez, Notary Public number 205
of and for the Federal District, and through public deed number 4,072 dated February 18,
2002, notarized by Mr. Arturo Adolfo Llorente Martínez, Notary Public
number 205 of and for the Federal District, and that said powers have not been
revoked nor limited or amended in any way to this date.


 


c)              WHEREAS
it wishes to execute this Agreement with MADERAS in order to render personnel
and administration services as described herein below, in accordance with the
terms and conditions hereof.


 


d)             WHEREAS
it has all material and human elements necessary to render the services herein
referred to.


 


II.                                     MADERAS
declares through its legal representative:


 


a)              WHEREAS
it is a mercantile company organized in accordance with the laws of the Mexican
Republic, as evidenced in public deed number 3,776 dated August 23, 2001,
notarized by Mr. Arturo Adolfo Llorente Martínez, Notary Public number 205
of and for the Federal District, same that was registered in the Public
Registry of Property and Commerce under mercantile folio number 282,079.


 


B)            WHEREAS
its legal representatives have sufficient powers necessary to execute this
Agreement, as evidenced in public deed number 4,074 dated February 18,
2002, notarized by Mr. Arturo Adolfo Llorente Martínez, Notary Public
number 205 of and for the Federal District, and that said powers have not been
revoked nor limited or amended in any way to this date.


 


[Illegible
signatures]


 





















 


c)              WHEREAS
it wishes to execute this Agreement with MASISA SERVICIOS in order to contract
for and receive personnel and administration services as described herein
below, in accordance with the terms and conditions hereof.


 


IN WITNESS WHEREOF, the parties
hereto agree upon execution hereof in accordance with the following:


 


CLAUSES


 


FIRST.- SERVICES.


 


1.1             MASISA
SERVICIOS hereby undertakes rendering MADERAS with personnel hired by it, to
perform all tasks as described in this clause and which are detailed in Exhibit A
hereto (hereinafter “Services”) in favor of MADERAS, and MADERAS undertakes to
pay for all personnel services rendered by MASISA SERVICIOS in accordance with
the rates set forth in Exhibit B hereto. Both Exhibits are incorporated
hereto by reference.


 


1.2             The
services, without limitation, are listed below:


 


a)              Administrative
services for all administration areas of MADERAS.


b)             Technical
administration and IT services.


c)              Services
in the marketing and sales, collections, and commercial promotion areas.


d)             Human
resources services.


e)              Finance
and Accounting services.


f)                Quality
Assurance Services.


g)             Materials
Planning and Stock Management.


h)             Services
in the Purchasing Area.


i)                 Traffic.


j)                 Transportation
and Distribution.


k)              General
Services.


 


1.3             In
rendering the Services, MASISA SERVICIOS shall make use of all personnel as
required for optimal and efficient development of all MADERAS operations.


 


1.4             MASISA
SERVICIOS personnel shall fill all positions as required for rendering the
services herein referred to, in the understanding that the number of people
required on the part of MASISA SERVICIOS to render the services herein agreed
upon shall be modified at its judgment. In this case, the parties shall review
all amounts payable to MASISA SERVICIOS in order to reflect any additional cost
as incurred for said reason.


 





















 


SECOND.- CONSIDERATION AND BILLING.


 


2.1                                MADERAS
agrees to pay MASISA SERVICIOS for all Services, during the term hereof or that
of the Exhibits hereto, the applicable consideration in accordance with Exhibit B
hereof. Said Exhibit B may be modified or replaced by agreement of the
parties each time there are movements of personnel used for compliance herewith
and/or in the agreed upon consideration.


 


2.2                                The
parties agree that the consideration includes the cost of fees and
considerations to third parties, permits, licenses, rights, work materials,
lease of equipment and, in general, all expenses incurred by MASISA SERVICIOS
or its personnel in order to render the services subject matter hereof.


 


2.3                                All
travel expenses incurred in by the MASISA SERVICIOS personnel associated with
the rendering of the services subject matter hereof are not included in the
agreed upon consideration. Therefore, said travel expenses shall be reimbursed
to MASISA SERVICIOS by MADERAS within the first fifteen (15) calendar days of
the month following the month in which said expenses shall have been incurred
in; provided, however, these are duly documented and had been performed in
accordance with the travel policies as authorized by MASISA SERVICIOS for
MADERAS.


 


2.4                                MASISA
SERVICIOS shall bill MADERAS on a monthly basis for the services rendered in
accordance herewith. Said invoices shall be sent to MADERAS within the first
ten (10) days of the month – including a detailed listing of all services
rendered.


 


2.5                                All
payments shall be made within ten (10) days following the date on which
MADERAS receives the appropriate invoice.


 


2.6                                All
amounts shall be added with Value-added Tax (VAT) as appropriate in accordance
with the current Mexican laws.


 


2.7                                All
invoices issued by MASISA SERVICIOS shall meet all applicable tax requirements
as applicable in accordance with the Mexican tax laws.


 


THIRD. INDEPENDENT CONTRACTOR AND WORK RELATIONSHIP.


 


3.1                                MASISA
SERVICIOS agrees that its capacity herein is merely that of an independent
contractor and not that of an employee, worker or agent of MADERAS. Likewise,
this agreement shall not be construed as a partnership or franchise between the
parties.


 





















 


3.2                                The
parties agree that all personal used by MASISA SERVICIOS for rendering the
Services in accordance herewith, are employees of MASISA SERVICIOS and not
employees of MADERAS. Therefore, the parties agree that MASISA SERVICIOS shall
be responsible for payment of all salaries and amounts payable to its employees
and all taxes and contributions associated with these employees, including all
taxes to be withheld by the employer in accordance with the applicable laws.


 


3.3                                In
accordance with the above, MASISA SERVICIOS shall be the sole responsible party
for: (i) maintaining all necessary personnel for rendering of the Services
subject matter hereof; (ii) paying all applicable fees, contributions, and
taxes, including, without limitation, all fees related with social security,
housing for employees and the retirement savings system (iii) directly
paying employees their salaries and benefits; and (iv) all decisions with
respect to the work relationship with all employees, including, without
limitation, the contracting, training, and termination of that relationship.


 


3.4                                MASISA
SERVICIOS shall be the sole responsible party for all obligations set forth by
the law under its charge as employer in the relationship with the people it uses
for the performance of the services subject matter hereof. It further undertakes
to respond to all individual and collective claims that its employees, workers,
subcontractors, consultants or advisors may submit against MADERAS, and MASISA
SERVICIOS undertakes to indemnify and hold MADERAS harmless of any and all
claims that it may face. Also, MASISA SERVICIOS shall immediately repay any
legal or other expenses that MADERAS may disburse for said concept.


 


FOURTH. DELEGATION OF POWERS AND OPERATION.


 


4.1                                MADERAS
shall make all formal appointments as necessary and shall grant all powers as
required with any third parties, such as banks, public/private institutions and
any others so that MASISA SERVICIOS is able to meet all obligations under its
charge hereunder.


 


4.2                                Likewise,
all accounting, records, control systems, software, and other items associated
with the good administration and services, shall be determined at all times by
MASISA SERVICIOS.


 


FIFTH.- COPYRIGHT AND CONFIDENTIALITY.


 


5.1                                Both
parties acknowledge that in virtue hereof, several inventions, combinations,
machines, methods, formulas, techniques, processes, enhancements, software
designs, software, strategies, computer-specific know how, information or
author works (“Property of MADERAS”) may be discovered, created or developed.


 





















 


5.2                                Likewise,
both parties acknowledge that the material and information related with
MADERAS, its suppliers or affiliates that shall have been or may be in
possession or knowledge of MASISA SERVICIOS in relation with the development
herewith, consists of confidential information, property of MADERAS, its
suppliers and affiliates (hereinafter “Confidential Information”).


 


5.3                                MASISA
SERVICIOS agrees and accepts that all “Property of MADERAS” and all “Confidential
Information” discovered, created or developed hereunder or resulting here from
shall be and remain the exclusive property of MADERAS. Furthermore, MASISA
SERVICIOS accepts that MADERAS shall be the owner and/or holder of all
copyrights, industrial secrets, brands and rights to patents with respect to
said “Property of MADERAS” and the “Confidential Information.”


 


5.4                                MASISA
SERVICIOS agrees to maintain the strict confidentiality of said “Property of
MADERAS” and the “Confidential Information” and agrees to not disclose said
information to any employees, except on a need-to-know basis. MASISA SERVICIOS
also agrees to not use the “Confidential Information” in its benefit or that of
third parties, beyond performance hereof and to not disclose the same to any
person, either during the term hereof or at anytime thereafter, except by order
by appropriate authorities.


 


5.5                                Both
parties agree that, for all legal purposes, “Confidential Information” shall be
considered as Industrial / Technical / Commercial / Manufacturing Secrets, in
accordance with the provisions of articles 82 through 86bis-1 and sections IV,
V, and VI of article 223 of the Industrial Property Law, article 134 section XIII
of the Federal Labor Law, and articles 210 and 211 of the Criminal Code of and
for the Federal District, and its correlatives of the Criminal Codes of and for
the States of the Mexican Republic. Due to the above, noncompliance by MASISA
SERVICIOS with the provisions of this clause may constitute a crime in
accordance with the above legal provisions.


 


5.6                                MASISA
SERVICIOS undertakes to extend the obligations contained in this clause to all
employees, subcontractors, consultants and advisors used in the rendering of
the services subject matter hereof and which have access to the “Confidential
Information” and the “Property of MADERAS”. Therefore, MASISA SERVICIOS binds
itself to indemnify and hold MADERAS harmless of any disputes arising from
breach by MASISA SERVICIOS or its employees, subcontractors, consultants or
advisors of the conditions of this clause, regardless of the right of MADERAS
to rescind this agreement immediately and of all other legal actions it has
according to the law.


 





















 


SIXTH.- TERM AND TERMINATION.


 


6.1                                This
Agreement shall be binding upon the parties as of the effective date and shall
continue in force until any of the parties terminates same at any time and for
any reason, without responsibility for any of the parties through written
notification to the other party upon a minimum thirty (30) calendar day notice,
even though any of the parties shall have incurred in expenses or investments
or shall have acquired obligations with third parties for performance hereof.


 


6.2                                Upon
termination hereof, MASISA SERVICIOS shall return MADERAS all “Confidential
Information” and the “Property of MADERAS,” binding itself to maintain the
confidentiality of said information and not disclose it to a third party
without the express, written authorization by MADERAS.


 


SEVENTH.- DELIVERY OF MATERIALS UPON TERMINATION.


 


Upon termination hereof, MASISA
SERVICIOS shall immediately return MADERAS all information and/or
documentation, either written, electronic or contained in other media related
with any “Property of MADERAS” and “Confidential Information” (as defined in
clause five) in possession, custody or control of MASISA SERVICIOS.


 


EIGHTH. ASSIGNMENT


 


This Agreement may not be
assigned, either partially or fully, by any of the parties without the written
consent of the other party.


 


NINTH. RESCISSION


 


Either party may rescind this
agreement without any responsibility or the need of judicial testimony in case
of noncompliance by the other party with its obligations derived here from.


 


Likewise, the parties agree that
if MASISA SERVICIOS were subject to any proceeding of suspension of payments,
mercantile bankruptcy, strike or any other event of any nature whatsoever
affecting its operations or the services, this agreement may be rescinded
immediately, without previous notification.


 


TENTH.- NULLITY


 


If any
provisions hereof are considered null by an appropriate authority, either fully
or partially, this shall not affect the validity of the remaining clauses
hereof. The parties further agree that in case said
null provision is material hereto, the parties shall immediately start
negotiations aiming to replace said provision.


 





















 


ELEVENTH.- NOTIFICATIONS AND COMMUNICATIONS


 


11.1                          Any
notification or communication required or allowed in accordance herewith shall
be made in writing and the receiving party shall be considered notified if made
personally or sent via registered mail to the following addresses:


 


(i)                                     MASISA
SERVICIOS


 


Carretera
Panamericana Km. 959


C.P. 34034, Apdo. Postal 534, Durango, Dgo.


 


Juan
Racine No. 112, 1er Piso, Col. Los Morales


C.P.
11510, Mexico D.F.


 


(ii)                                  MADERAS


 


Juan
Racine No. 112, 4° Piso, Col. Los Morales


C.P.
11510, Mexico D.F.


 


Carretera
Panamericana Km. 959


C.P.
34034, Apdo. Postal 534, Durango, Dgo.


 


11.2                           Either
party may modify its address for purposes of notifications through notification
to the other party of said change in accordance with the provisions of this
clause.


 


TWELFTH.- FULL AGREEMENT


 


This Agreement and its Exhibits
constitute the full agreement between the parties. Therefore, it supersedes any
and all agreements, covenants, arrangements or understandings between MADERAS
AND MASISA SERVICIOS in relation with the purpose hereof. This agreement may
only be modified through a written instrument signed by MADERAS AND MASISA
SERVICIOS. In case of disputes between the provisions hereof and those of
another document, except for a modification hereto, signed by both parties, the
provisions hereof shall prevail.


 


THIRTEENTH.- APPLICABLE LAW AND JURISDICTION


 


For construction of, compliance
with and enforceability of this Agreement, both parties submit themselves to
the applicable mercantile laws and the appropriate courts in Mexico City,
Federal District. Both parties further waive any other jurisdiction that may
correspond to them by reason of their current or future domiciles or otherwise.


 





















 


Having learnt the contents and
legal scope hereof, the parties sign it by duplicate on the sixteenth day of August 2004
in Mexico City, Federal District.


 


 


	
  MASISA SERVICIOS

  MADERAS Y SINTENTICOS

  SERVICIOS, S.A. DE C.V.

  	
  MADERAS

  MADERAS Y SINTETICOS DE

  MEXICO, S.A. DE C.V.

  
	
  [signatures]

  	
  [signatures]

  
	
  Ernesto
  Franco Camacho

  and

  Victor Guillermo Mauricio Maruri

  Vallespir

  	
  Francisco de
  Asis Alessandri Rozas

  and

  Victor Guillermo Mauricio Maruri

  Vallespir

  



 





















 


Annex “A”


 


To the service
rendering agreement entered by MADERAS Y SINTÉTICOS SERVICIOS, S. A. DE C.V,
and MADERAS Y SINTÉTICOS DE MÉXICO, S. A. DE C. V. on August the 16th,
2004.


 


a.
ADMINISTRATIVE SERVICES IN ALL FIELDS


 


1. Board of
Directors


2. Administrations


3. Sub
Administrations


4. Managers


5. Sub
Managers


6. Heads of
Department


7.
Coordination


8. Supervisors


9.
Coordinating Officers


10. Operation
Representatives


11. Officer,
assistant and clerk positions


12. Analyst
positions


13.
Programming analyst positions


14. Secretary
positions


15. Car and
truck driver positions


16. Courier


17. Purchase
engineering


18. Laboratory
positions


19. Data entry
clerk positions


20.
Maintenance


21. Trade


22. Cleaning


23. Production


24.
Supervision


 


b.
ADMINISTRATION AND SYSTEM TECHNICAL SERVICES


 


1.
Administration


 


1.1.
Planning, instrumentation and control of accounting systems


1.2.
Advisory and control of fiscal and legal obligations


1.3.
Elaboration and control of routines


1.4.
Supervision and control of finance information


 


2. Systems


 


Design,
elaboration, implementation, supervision, control and maintenance of computer
information systems.


 





















 


c. SERVICES IN
MARKETING AND SALES, COLLECTION, COMMERCIAL PROMOTION FIELDS


 


1.
Investigation on markets.


 


Assistance
in the elaboration of market documents: market analysis, qualitative –
quantitative report analysis of sales force. 


 


Investigation
through specialized agents.


 


2. Marketing


 


Determining
strategies and global and product global promotion tactics.


 


Elaborating
promotional campaigns with or without agency advice according to the need of
every product.


 


Elaborating
marketing plan per product.


 


Assistance
to control and checking of promotional material production.


 


Assistance
and participation in training and sales teams.


 


Assistance
to control of product profitability.


 


Analysis
and report of competitors’ promotional material.


 


Publicity
authorization procedures before the Health Secretariat.


 


Advisory
on new product launching.


 


3. Sales
services


 


Advisory
on calculation and elaboration of sales quotes by product.


 


Advisory
on incentive calculation to sales force.


 


Assistance
to review trip expenses and inspect funds of sales force members.


 


Productivity
analysis by sales territory.


 


d. HUMAN
RESOURCES SERVICES


 


1. Advisory
to establish wage and salary books.


2.
Advisory to establish procedure and human resource policy manuals as well as
safety programs.


3.
Assistance to select personnel.


4.
Assistance to elaborate training programs to managers and directors.


 





















 


5. Assistance
to select advisors.


6.
Assistance to elaborate training manuals for calculation programs.


7.
Legal assistance in case of individual and collective labor suits.


8.
Advisory on payroll and tax control.


9.
Advisory on general services.


 


e. FINANCE AND
ACCOUNTING SERVICES


 


1. Implementation of accounting and
administrative practices and procedures according to accounting principles and
guidelines appointed by MADERAS.


2.
Elaboration and implementation of finance budgets and cash flow.


3.
Development of company’s budgets at diverse review phases.


4.
Elaboration an implementation of internal control manuals.


5.
Preparation of manuals for finance report elaboration.


6.
Analysis, design, development e implementation of computer systems and
procedures.


7. Fiscal
advisory.


8.
Handling insurance plans.


9.
Legal assistance to administrative issues.


 


f. QUALITY
CONTROL SERVICES


 


1.
Assistance to development of quality control procedures.


2.
Assistance to raw material, product under process and finished product analysis.


3.
Providing procedures for good manufacturing practices.


4.
Development of training programs for the quality control, production and
warehouse personnel.


5.
Development of methodology for validation systems.


 


g. MATERIAL
PLANNING AND INVENTORY HANDLING


 


1.
Assistance to formulation of elaboration plans.


2.
Assistance as to obtaining, material explosion and purchase programs.


3.
Assistance to inventory control.


4.
Assistance as to defining process timing, lot size, B, C classification, raw
material and products.


5.
Technical advisory as to master planning at short, middle and long term.


 


h. SERVICES IN
PURCHASE FIELD


 


1.
Development and qualification of suppliers.


2.
Defining purchase volumes regarding finished materials and containing and
packing material.


3.
Assistance to purchase of various materials for company good performance.


 





















 


4.
Assistance as to elaboration and review of procedures related to purchases.


5. Assistance as to development of
specifications for purchase of raw material, container material, packing
material and other materials.


 


i. TRADE


 


1. Providing assistance to importation of raw
material, equipment and other materials required by the company.


2. Technical assistance as removal of
imported material from customs.


3. Technical assistance as to elaboration and
obtaining required documents for the import, importation permits (SSA/ SECOFI),
free sale certificates.


4. Technical assistance as to exportation of
products, including permits, certificates and all documents necessary for
exportation.


5. Assistance as to material and product
classification in accordance with customs regulations.


 


j.
TRANSPORTATION AND DISTRIBUTION


 


1. Provision of manuals to optimize
transportation and distribution.


2. Assistance as to insurances.


3. Assistance as to warehouse handling plans
and inventory controls.


4. Legal assistance as to procedures
regarding all types of licenses and permits.


5. Assistance as to elaboration of contracts
with third parties.


 


k. GENERAL SERVICES


 


1. Elaborating papers and keeping operation
manuals at general service fields and supervising their compliance.


2. Negotiations before government offices.


3. Other services that, due to their nature,
are related to the scope of this agreement.


 


Being the
parties aware of the provisions herein and of the legal scope of this annex,
they sign two (2) copies of this instrument on this date of August the
16th, 2004 in the City of Mexico / Federal District.


 


 


	
  MASISA SERVICIOS

  	
   

  	
  MADERAS

  
	
  MADERAS Y SINTÉTICOS SERVICIOS

  	
   

  	
  MADERAS Y SINTÉTICOS DE MEXICO

  
	
  S. A. DE C. V.

  	
   

  	
  S. A. DE C. V.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  [illegible signature]

  	
   

  	
  [illegible signature]

  
	
  Ernesto Franco Camacho

  	
   

  	
  Francisco
  de Assis Alessandri Rozas

  
	
  and

  	
   

  	
  and

  
	
  Victor Gillermo Mauricio Maruri

  	
   

  	
  Victor Gillermo Mauricio Maruri

  
	
  Vallespir

  	
   

  	
  Vallespir

  



 





















 


Annex “B”


 


To the service
rendering agreement entered by MADERAS Y SINTÉTICOS SERVICIOS, S. A. DE C.V,
and MADERAS Y SINTÉTICOS DE MÉXICO, S. A. DE C.V. on August the 16th,
2004.


 


 


COMPENSATION


 


MADERAS shall
pay MASISA SERVICES on a monthly basis an amount equivalent to the general
payroll of all MASISA SERVICES employees described in Annex “B” and who have
been assigned to MADERAS, plus their additional services comprised in the labor
collective agreement, from which bona fide workers, according to
the following percentage distribution established in these annexes are excluded
thereto.


 


In regard to
costs stated in the following tables, 5 % shall be aggregated, plus the
corresponding Tax to Aggregate Value.


 


Being the
parties aware of the provisions herein and of the legal scope of this annex,
they sign two (2) copies of this instrument on this date of August the
16th, 2004 in the City of Mexico / Federal District.


 


 


	
  MASISA SERVICIOS

  	
   

  	
  MADERAS

  
	
  MADERAS Y SINTÉTICOS SERVICIOS

  	
   

  	
  MADERAS Y SINTÉTICOS DE MEXICO

  
	
  S. A. DE C. V.

  	
   

  	
  S. A. DE C. V.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  [illegible signature]

  	
   

  	
  [illegible signature]

  
	
  Ernesto Franco Camacho

  	
   

  	
  Francisco
  de Assis Alessandri Rozas

  
	
  and

  	
   

  	
  And

  
	
  Victor Gillermo Mauricio Maruri

  	
   

  	
  Victor Gillermo Mauricio Maruri

  
	
  Vallespir

  	
   

  	
  Vallespir

  



 





















 


ANNEX “B”


 


MADERAS Y SINTÉTICOS SERVICIOS S. A. DE C.V.


 


(Payment
of remunerations between August 01 and 30, 2004 to MMX and between
August 16 and 30, 2004 to FTM)


 


ADMINISTRATION


 


	
  NAME

  	
   

  	
  COMPANY’S

  COST

  	
   

  	
  % dedication

  to FTM

  	
   

  	
  % dedication to

  Masisa México

  	
   

  	
  FTM

  MXN

  	
   

  	
  Masisa México

  MXN

  	
   

  	
  Field

  	
   

  
	
  Alessandri Rozas Francisco de Assis

  	
   

  	
   

  	
   

  	
  15

  	
  %

  	
  85

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  M

  	
   

  
	
  Argüello Barros Jose Angel

  	
   

  	
   

  	
   

  	
  15

  	
  %

  	
  85

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  Garcia Caballero Cyntia

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  M

  	
   

  
	
  Avila Fernadez Juan Francisco

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  Hernandez Moreno Alfredo

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  Lbarra Altamira Leobardo

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  Lopez Morales Miguel Angel

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  Nevarez Nuñez Isela

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  Osornio Castañares Ramon Tomas

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  Quiroz Gabriel

  	
   

  	
   

  	
   

  	
  3

  	
  %

  	
  97

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  Rodriguez Garza Alberto

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  M

  	
   

  
	
  Texco Tlaxcalteco Cuauhtemoc

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  M

  	
   

  
	
  Vargas Enriquez Arturo

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  Morrissey Gonzalez Roger Eduardo

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  Vizcarra Medellin Victor Manuel

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  De La Torre Perez Maria Mayela

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  Perez Sarquis Luis Alfredo

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  M

  	
   

  
	
  Pacheco Morales Emilia

  	
   

  	
   

  	
   

  	
  50

  	
  %

  	
  50

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  Pacheco Díaz Elizabeth

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  T

  	
   

  
	
  De Ia Rosa Soto César Felipe

  	
   

  	
   

  	
   

  	
  30

  	
  %

  	
  70

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  M

  	
   

  
	
  Garibay Martínez Edgar

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  M

  	
   

  
	
  Serrano Muñoz Juan

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  M

  	
   

  
	
  Sánchez Hernández Jorge Antonio

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  M

  	
   

  
	
  Gamboa Quezada Maria Alejandra

  	
   

  	
   

  	
   

  	
  5

  	
  %

  	
  95

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  Rocha Castilio Miguel Angel

  	
   

  	
   

  	
   

  	
  5

  	
  %

  	
  95

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
  PazY Mar Paula Veronica

  	
   

  	
   

  	
   

  	
  5

  	
  %

  	
  95

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Adm
  D

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ADMINISTRATION

  	
   

  	
  1,091,187.86

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  36,573.28

  	
   

  	
  917,487.65

  	
   

  	
   

  	
   

  



 


[illegible signatures]


 





















 


LOGISTICS - DURANGO


 


	
  NAME

  	
   

  	
  COMPANY’S

  COST

  	
   

  	
  % dedication

  to FTM

  	
   

  	
  % dedication to

  Masisa México

  	
   

  	
  FTM

  MXN

  	
   

  	
  Masisa México

  MXN

  	
   

  	
   

  	
   

  
	
  Mercado
  Castañeda Luis

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Log
  D

  	
   

  
	
  Pichardo
  Hernandez Juan Noe

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Log
  D

  	
   

  
	
  Quiñonez
  Salcido Francisco Javier

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Log
  D

  	
   

  
	
  Perez
  Mancha Luis Gerardo

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Log
  D

  	
   

  
	
  Bustamante
  Alamillo Jesus Florencio

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Log
  D

  	
   

  
	
  Morteo
  Pardo Omar

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Log
  D

  	
   

  
	
  LOGISTICS

  	
   

  	
  80,207.29

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
  0

  	
   

  	
  80,207.29

  	
   

  	
   

  	
   

  



 


MASISA COMMERCIAL


 


	
  NAME

  	
   

  	
  COMPANY’S

  COST

  	
   

  	
  % dedication

  to FTM

  	
   

  	
  % dedication to

  Masisa México

  	
   

  	
  FTM

  MXN

  	
   

  	
  Masisa México

  MXN

  	
   

  	
   

  	
   

  
	
  COMMERCIAL

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Colmenares Cesar Leoncio Fermin

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  D

  	
   

  
	
  Leyva Gamiz Olivia

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  D

  	
   

  
	
  Becerra Espinosa Edgardo Abel

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Rodriguez Pardo Salustia

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Perez Lugo Mario

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Espinoza de los Monteros Rocha Karla Mir

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  D

  	
   

  
	
  Romera Baños Rodolfo Adrian

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Vargas Garcia Raul

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Franco Camacho Ernesto

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Jasso Uribe Federico

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Cepeda Castillo Efrain Norberto

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Hernandez Tapia Juan Pablo

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Estrada Sandoval Abel Omar

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Hernandez Luna Laura

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Salgado Valenzuela Carlos Fernando

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Rojas Sateler Jaime Esteban

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Rodriguez Espinoza Jose de Jesus

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Becerril Alarcon Isis Lilian

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Rivera Serrano Laura

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Perez Franco Pedro

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  



 





















 


	
  Arcila
  Pérez Marbel Lizbeth

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Rodulfo
  Dorantes Victor Hugo

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  De
  Tuoni Fraga Aldo

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Rico
  Juarez Vicente

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  COMMERCIAL

  	
   

  	
  1,188,008.40

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  0

  	
   

  	
  1,188,008.40

  	
   

  	
   

  	
   

  



 


MASISA PRODUCTION


 


	
  NAME

  	
   

  	
  COMPANY’S

  COST

  	
   

  	
  % dedication

  to FTM

  	
   

  	
  % dedication to

  Masisa México

  	
   

  	
  FTM

  MXN

  	
   

  	
  Masisa México

  MXN

  	
   

  	
   

  	
   

  
	
  Müller Rodriguez Sergio Javier

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Luna Sanchez Hugo

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Moreno Favela Jesus Isaac

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Rocha Morales Jose Angel

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Siuffe Alvarado Margarita Montserrat

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Soto de La Cruz Humberto

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Gonzalez Reta Ruben

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Covarrubias Contreras Roberto

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Guzman Sanchez Roberto Carlos

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Maruri Vallespir Victor Guillermo Mauric

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Winkler Hinrichs Martin Harald

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Ochoa Quiñonez Emmanuel

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Manzanera Gandara Gerardo

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Ibañez Quiñones Carlos Enrique

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Guzman Vazquez Edgar Jose

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Lopez Lopez Luciano

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Moreno Cabral Arturo

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Arjon Duron Jose Federico

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Burciaga Vargas Jose Manuel

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Guzman Pineda Jesus

  	
   

  	
   

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  



 





















 


	
  Unzueta Leyva Vicente

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Chairez Espino Juan Ignacio

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Del Hoyo Virrey Luis Emilio

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Flores Martinez Ruben

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Puentes Sanchez Jorge Armando

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Alvarez Cortez Juan Pablo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Alvarez Ramirez Adrian

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Briceño Contreras Manuel

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Diaz Gonzalez Hugo Cesar

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Garcia Flores Cesar Anastacio

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Guerrero Monarrez Jesus

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Loza Benitez Jorge Armando

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Lozano Leal Mario Antonio

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Robles Contreras Enrique

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Ruiz Acevedo Edgar

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Salazar Contreras Juan Gerardo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Villegas Ramirez Luis Manuel

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Ontiveros Quintero Alejandro

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Rívas Vera Martin

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Briceño Ceniceros Jorge Ivan

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Dominguez Montes Arnulfo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Del Hoyo Virrey Alberto

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Medina Murga Jose Andres

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Rios Juarez Felipe

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Robledo Burciaga Juan

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Acosta Gomez Ruben

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Perez Garcia Manuel De Jesus

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Terrones Felix Felipe

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Parra Moreno Eleuterio

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Gonzalez Rivas Jesus Francisco

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Saenz Gonzalez Higinio Arturo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Santillan Mendez Marcelo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Zapata Duarte Jesus

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Arellano Ramirez Hector

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Castro Quiñones Adolfo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  



 





















 


	
  Gonzalez Rocha Rafael

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Mata Chavez Juan Antonio

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Ortz Ramos Renato

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Reyes Lozano Jose Cruz

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Rodriguez Arjon Julio Cesar

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Sanabria Rodriguez Jesus

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Soto Calvillo Javier Inocente

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Reyes Lozano Jose Ricardo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Garcia Aguilar Raul Gerardo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Medrano Cruz Juan

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Alday Gonzalez Juan Antonio

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Casales Lorenzo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Gomez Carrillo Martin

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Piedra Rodriguez Gerardo Emilio

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Huitron Vazquez Miguel

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Reyes Sifuentes Victor Manuel

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Sanchez Garcia Arturo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Soto Rosales Jesus Felipe

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Ibarra Lopez Francisco

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Andrade Contreras Alejandro

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Andrade Contreras Jose Antonio

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Aviles Leal Miguel Angel

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Felix Reyes Jesus

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Flores Lara Jose Alfonso

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Galarza Pantoja Jose Maria

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Garcia Amaya Oscar Manuel

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Garcia Villa Guillermo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Gonzalez Vallejo Francisco Javier

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Guzman Juarez Ramon

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Haro Garcia Juan Carlos

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Manriquez Rodriguez Jose Angel

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Martinez Briceño Gerardo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Montelongo Rutiaga Wenceslao

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Orozco Soria Valentin

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Ruiz Candia Hectaor Raul

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Santos Cervantes Zenaido

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Valverde Flores Pascual

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  



 





















 


	
  Arevalo Lopez Maximino

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Chairez Rodriguez Juan Antonio

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Soto Murillo Edmundo Javier

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Mejorado Quiñones Saul

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Garcla Villa Juan Bernardino

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Gonzalez Castro Hugo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Castro Quintanilla Nicacio

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Ontiveros Rodriguez Gustavo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Campa Renteria Praxedis

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Navarro Gonzalez Victor Hugo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Hernandez Valles Hector Ivan

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Torres Almaraz Jesus Francisco

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Rivera Manqueros Luis Guilermo

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  Rangel Sanchez Federico

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Prod
  D

  	
   

  
	
  PRODUCTION

  	
   

  	
  1,654,472.60

  	
   

  	
  0

  	
  %

  	
  100

  	
  %

  	
  0

  	
   

  	
  1,654,472.60

  	
   

  	
   

  	
   

  



 


LOGISTICS - TAMPICO


 


	
   

  	
   

  	
  COMPANY ́S

  	
   

  	
  % Dedication or Products

  Volume

  	
   

  	
  FTM

  	
   

  	
  Masisa Mexico

  	
   

  	
   

  	
   

  
	
  NAME

  	
   

  	
  COST

  	
   

  	
  FTM

  	
   

  	
  Masisa Mexico

  	
   

  	
  MXN

  	
   

  	
  MXN

  	
   

  	
   

  	
   

  
	
  Cruz Hernandez Marcos

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Garcfa Espinoza Fernando

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Hernández Cedillo Humberto

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Hernández Juarez Sergio

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Jongitud Rodriguez Osvaldo

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Mascareñas Garcia Emilio

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Muir Carlo

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Orduña Pedraza Ricardo

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Paniagua Barajas Juan Martin

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Paredes Vazquez Jorge Humberto

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Rivas Salas Marco Vinicio

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Rodriguez Alvarez Carlos

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Salinas Rivera Ricardo

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Sánchez López Hugo Enrique

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Santos Vergara Viclor Manuel

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Santiago Hernández Josue

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  Vera Gámez Ernesto

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
  0.00

  	
   

  	
  Log
  T

  	
   

  
	
  LOGISTICS

  	
   

  	
  231,430.57

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  311,090.81

  	
   

  	
   

  	
   

  	
   

  	
   

  



 





















 


FTM COMMERCIAL


 


	
  NAME

  	
   

  	
  COMPANY’S

  COST

  	
   

  	
  % dedication

  to FTM

  	
   

  	
  % dedication to

  Masisa México

  	
   

  	
  FTM

  MXN

  	
   

  	
  Masisa México

  MXN

  	
   

  	
   

  	
   

  
	
  Asselot Michel Constant Robert

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Allen Brooks Jackelyn Cley

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Esteinou de La Tijera José Pablo

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Hernández Hernández Aida

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Herrera Sierra Lilia Irma

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Manrique Hanun Maurício

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Marín Mejía Ana Laura

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Martinez Cortez Reyes Rogelio

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Rivera Garrido Armando

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Solis Jiménez Wilbert

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Vargas Castro Víctor Raúl

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  Campos Barcia Everardo Tlaloc

  	
   

  	
   

  	
   

  	
  100

  	
  %

  	
  0

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
  Com
  M

  	
   

  
	
  COMMERCIAL

  	
   

  	
  496,703.33

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  620,699.76

  	
   

  	
  0.00

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Company’s Cost including 5%

  	
   

  	
  4,742,010.05

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total FTM

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  901,834.11

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total MXN

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  3,840,175.95

  	
   

  	
   

  	
   

  



 


	
  MMX

  	
   

  	
  Company’s Cost

  5% incl.

  	
   

  	
  5% Commission

  Masisa Servicios

  	
   

  	
  Net Company’s Cost

  	
   

  
	
  Administration

  	
   

  	
  917,487.65

  	
   

  	
  43,689.89

  	
   

  	
  873,797.76

  	
   

  
	
  Logistics

  	
   

  	
  80,207.29

  	
   

  	
  3,819.39

  	
   

  	
  76,387.90

  	
   

  
	
  Commercial

  	
   

  	
  1,188,008.40

  	
   

  	
  56,571.83

  	
   

  	
  1,131,436.57

  	
   

  
	
  Production

  	
   

  	
  1,654,472.60

  	
   

  	
  78,784.41

  	
   

  	
  1,575,688.19

  	
   

  
	
  Collection to Masisa Mexico

  	
   

  	
  3,840,175.95

  	
   

  	
  182,865.52

  	
   

  	
  3,657,310.43

  	
   

  



 


	
  FTM

  	
   

  	
  Company’s Cost

  5% incl.

  	
   

  	
  5% Commission

  Masisa Servicios

  	
   

  	
  Net Company’s Cost

  	
   

  
	
  Administration

  	
   

  	
  173,700.21

  	
   

  	
  8,271.44

  	
   

  	
  165,428.77

  	
   

  
	
  Logistics

  	
   

  	
  231,430.57

  	
   

  	
  11,020.50

  	
   

  	
  220,410.07

  	
   

  
	
  Commercial

  	
   

  	
  496,703.33

  	
   

  	
  23,652.54

  	
   

  	
  473,050.79

  	
   

  
	
  Production

  	
   

  	
  0.00

  	
   

  	
  0.00

  	
   

  	
  0.00

  	
   

  
	
  Collection to Masisa México

  	
   

  	
  901,834.11

  	
   

  	
  42,944.48

  	
   

  	
  858,889.63

  	
   

  



 





















 


TOTAL
MONTHLY VALUE TO BE PAID BY MADERAS Y SINTÉTICOS DE MEXICO S. A. de C. V. TO
MADERAS Y SINTETICOS SERVICIOS S. A. de C. V. IS OF: MXN $ 3, 657, 310. 43


 


In regard to
costs stated in the following tables as “Company Net Cost” 5 % shall be
aggregated, plus the corresponding Tax to Aggregate Value.


 


Being the
parties aware of the provisions herein and of the legal scope of this annex,
they sign two (2) copies of this instrument on this date, August the
16th 2004 in the City of Mexico / Federal District.


 


 


	
  MASISA SERVICIOS

  	
   

  	
  MADERAS

  
	
  MADERAS Y SINTÉTICOS SERVICIOS

  	
   

  	
  MADERAS Y SINTÉTICOS DE MEXICO,

  
	
  S. A. DE C. V.

  	
   

  	
  S. A. DE C. V.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  [illegible signature]

  	
   

  	
  [illegible signature]

  
	
  Ernesto Franco Camacho

  	
   

  	
  Francisco
  de Assis Alessandri Rozas

  
	
  and

  	
   

  	
  and

  
	
  Victor
  Gillermo Mauricio Maruri Vallespir

  	
   

  	
  Victor
  Gillermo Mauricio Maruri Vallespir