Document:

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number 205 of and for the Federal District, and that said powers have not been
revoked nor limited or amended in any way to this date.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 VallespirExhibit 10.7

 

Free
English Translation

 

Sublease agreement entered between Maderas y Sinteticos de Mexico, S.
A. de C. V. (variable stock corporation), herein represented by Mr. Jaime
Esteban Rojas Sateler, hereinafter designated as the “Sublessor”, and Forestal
Terranova Mexico, S. A. de C. V. (variable stock corporation), herein
represented by Mr. Michel C. Asselot, hereinafter designated as the “Sublessee”,
in accordance with the following declarations and clauses.

 

DECLARATIONS

 

1.- The “Sublessor” declares:

 

1.1-                             that it is a corporation established under the
laws of the Mexican Republic as provided in the public deed no. 3,776 dated
August 23rd, 2001, witnessed by Mr. Arturo Adolfo Llorente Martinez,
Notary Public no. 205 in Mexico, D.F. (Federal District) and registered in the
Public Registry of Commerce under the page no. 282079 dated November 30th,
2001 and in the Federal Registry of Taxpayers under the no. MSM 010823770.

 

1.2-                             that its representative has the necessary
legal capacity to act in management transactions to bind it under the terms of
this agreement, as per the previously mentioned deed.

 

1.3-                             that it is the legitimate lessor holding fully
possession and use of the office no. 202, situated on the second floor of the
building known as “Corporativo Polanco”, located at no. 8, Jaime Balmes Ave.,
in the borough of Los Morales Polanco, Postal Code 11510, Municipality of
Miguel Hidalgo, in this city, as well as of 16 parking lots situated within the
car parking space of the building, as shown by the lease agreement entered into
with Mr. Rafael Marcos Dayan, dated December 1st, 2004, which is
attached hereto as Annex “A”.

 

1.4-                             that it holds the authorization from the
lessor, Mr. Rafael Marcos Dayan, to sublease part or the entire building.

 

1.5-                             that it is his desire to award in sublease to
the “sublessee” the portion that the latter requires as per his needs.

 

2.- The “Sublessee” declares:

 

2.1-                             that it is a corporation established under the
laws of the Mexican Republic as provided in the public deed no. 64,899 dated
December 16th, 1998, witnessed by Mr. Armando Galvez Perez Aragon,
Notary Public no. 103 in the Federal District and registered in the Federal
Registry of Taxpayers under the no. FTM — 981218 - 7VA.

 

2.2-                             that its representative has the necessary
legal capacity to represent it as

 

[ILLEGIBLE SIGNATURES]

 

1

 

appointed by the public deed mentioned in paragraph 2.1 and that such
capacity has not been revoked or limited in any way.

 

2.3-                             that it physically knows the building that
shall be given as to sublease, and that agrees with the conditions as received,
SUCH conditions beeing more than sufficient to occupy it immediately, since it
includes all the hygiene and security conditions necessary, acknowledging that
the subleased part is to its full satisfaction, considering that the electric,
water and sewage installations and further accessories are in regular
conditions of use.

 

2.4-                             THAT IT WISHES TO TAKE AS A SUBLEASE THE
BUILDING DESCRIBED IN DECLARATION 1.3 OF THIS CURRENT AGREEMENT.

 

Now,
therefore, as to all the previously exposed reasons, the parties agree to enter
this sublease agreement in conformity with the following clauses:

 

CLAUSES

 

FIRST:                   SCOPE OF THE AGREEMENT.       The “sublessor” awards in sublease to the “sublessee”, and the “sublessee”
accepts it, a certain portion of m2 (square meters) situated in the office no.
202, situated on the second floor of the building known as “Corporativo Polanco”,
located at no. 8, Jaime Balmes Ave., in the borough of Los Morales Polanco,
Postal Code 11510, Municipality of Miguel Hidalgo, in this city. The subleased
portion includes the sublease of a certain number o parking spaces.

 

SECOND:             TERM OF THE SUBLEASE.  The
term of the sublease shall be of five (5) years, for both parties, and shall
start to be in force and bind the Parties as from December 1st,
2004.

 

If,
for any reason, the “sublessor” decides to terminate the present agreement
before its completion date, written notification of thirty calendar days notice
to the “sublessee” shall suffice.

 

THIRD:                  PRICE.  The “sublessee” shall indemnify by way of a
monthly rent computing the proportional part of the percentage of the “sublessee”
workers physically occupying the building.

 

The
parties shall determine this monthly amount by mutual agreement.

 

In
accordance with the provisions of the articles 2425, section 1a, 2426 and 2427 of the current Civil Code, the “sublessee”
agrees to pay the rent established hereby, and, on its part the “sublessor”
undertakes to issue and hand over at the time of payment the corresponding
receipt meeting the tax requirements and signed by the legal representative.

 

2

 

Likewise,
the “sublessee” undertakes to pay, over any unpaid amount, late payment
interests equivalent to the Libor rate increased by two per cent. Such
interests shall be calculated daily on the unpaid balances for each calendar
day (or a fraction of it) during the time such payment remains unpaid and for
the current amount at the normal date of payment.

 

If,
for any reason, the rent is not credited in due date or in dates varying from
what is stipulated, it shall not be considered as modifying the present
agreement.

 

When
the “sublessee” pays the amount of the monthly rate by way of a cheque and this
cheque is returned due to lack of funds, the “sublessor” reserves the right to
charge 20 % value of the returned documents as to provisions of the article 193
of the General Law on Titles and Credit Operations.

 

The “sublessee”
shall not be able, in any case, to withhold the rent, under no circumstance
whether by law or otherwise.

 

THE “sublessee”
engages itself to mandatorily pay the integral rent for each month of the
sublease, even when it occupies the premises for a lesser time and by three
consecutives failures to pay the monthly rent, the “sublessor” shall be able to
ask for the early termination of the agreement as per the terms of section one
of article 2489 of the current Civil Code.

 

Pursuant
to the provisions of chapter IV of the Value Added Tax Law, the “sublessee”
shall charge, together with the monthly rent, the corresponding amount of this
tax, or what might substitute it.

 

The
sublessor states that the lessor shall pay on his behalf the property tax corresponding
to the leased space.

 

FOURTH:             NO COMMITMENT OF GUARANTEE.                The “sublessee” shall not award to the “sublessor”
any bond to guarantee the rental payments as well as the release of the
premises at the termination of the present agreement.

 

FIFTH                    ADJUSTMENTS.                The parties agree that the value of monthly
rents due by the negotiated sublease, shall be yearly increased, being during
the mandatory or voluntary term, in the same proportion as per the inflation
index of the United States of Mexico, taking into consideration the past twelve
months index, at each anniversary date of the present agreement, as published
by the Bank of Mexico.

 

If,
for any reason, the index is not published as per normal, or its equivalent is
not published, the agreed rent shall be maintained in force until its
publication and,

 

3

 

at
that time, shall be paid retroactively to the date at which the amount would
have been increased.

 

SIXTH:                  CONSIGNMENT.                The “sublessee” does not remit any consignment
to the “sublessor”.

 

SEVENTH:            DESTINATION.                   The parties agree that the “sublessee” shall
use the building to exclusively establish administrative offices.

 

In the
same way, THE “SUBLESSOR” states that the leased premises are in condition to
be leased for the use requested by THE “SUBLESSEE”.

 

EIGHTH:               BUILDING ACCEPTANCE.                      The
“sublessee” agrees to receive the premises in good state, and that it shall be
returned at the sublease termination, with normal wear and tear, supporting for
his own account the repairs expenses as per the provisions of the article 2444
of the current Civil Code, undertaking to indemnify the “sublessor” for any
damage to the subleased premises, caused by his own fault or by his employees,
parents or any persons who respond to the same and to maintain the services and
the existing installations clean and in good state.

 

The “sublessee”
shall accept the subleased space in their present conditions and shall proceed
at his own cost to the interior adequacies, as per his needs, as from the date
of signature of the present agreement and previous written authorization from
the “sublessor” who shall have to be informed in writing of such adequacies.

 

In the
same way, for the purposes of installation, the “sublessee” shall be able, at
his convenience, to subdivide the subleased area with removable screens without
changing the structure and the architectural façade of the building.

 

The “sublessee”
shall not be able, under no circumstances, to proceed to improvements or
previously unauthorized installations by the “sublessor” within the subleased
building. the breach of the provisions of the present clause makes ground to
the termination of the present agreement.

 

NINTH:                  TELEPHONES AND ELECTRIC POWER.                            The “sublessee”, if he so wishes, shall hire
the telephone services for his own account as well as further services inherent
to his business. Those expenses shall be supported by him, with the exception
of the electric power which shall run for the account of the “sublessor”.

 

It is
expressly forbidden to use the corridors, stairs and terraces, unless for the
exclusive transit and for the indispensable service within the subleased
building,

 

4

 

the “sublessee”
undertaking to proceed to the cleaning of the internal part corresponding to
the occupied space and to meet any sanction imposed by the Sanitary Authorities
for non respect of what they determine, but always limited to the part occupied
by the “sublessee”.

 

TENTH:                 TRANSFER OR SUBLEASE.                    The
“sublessee” shall not have the right to sublease all or part of the subleased
space occupied, without the consent of the “sublessor”.

 

ELEVENTH:         DEFAULT.                 The “sublessor” shall be empowered to
terminate the present agreement for any of the following causes:

 

a. for
the non-payment of three consecutives established monthly rents.

 

b. for
using the subleased premises to a different purpose as that agreed upon.

 

c. for
the non-performance of any of the provisions or clauses included in the present
agreement.

 

d. for
the non-performance of further provisions established by the applicable laws to
this agreement.

 

Further
on, the “sublessee” shall be empowered to terminate the present agreement for
any of the following causes:

 

a. If
the “sublessor” does not comply with any of the obligations derived from the
present agreement and does not remedy to such situation within 15 calendar days
as from the date when he is notified in writing by THE “SUBLESSEE”.

 

b. If,
for any reason, the “sublessee” finds himself not allowed to occupy the
building in the terms and conditions agreed in the present agreement.

 

TWELFTH:           HAZARDOUS SUBSTANCES.                     The “sublessee” is not allowed to store
hazardous, corrosive, poisonous or flammable substances within the premises.

 

In the
case of casualty in the premises chargeable to the “sublessee”, he shall have
to indemnify the “sublessor” and other neighbours from damages in accordance
with the articles 2435, 2437 and 2439 of the current Civil Code.

 

THIRTEENTH:             PARKING SPACES.                       The
“sublessee” shall be allowed to use the parking spaces previously agreed upon
with the “sublessor”.

 

The “sublessor”
shall not be held responsible for damages and theft happening in the cars of
the “sublessee” parked in the building parking area, nor shall he be

 

5

 

held
responsible for damages and theft happening within the premises, subject of
this agreement.

 

FOURTEENTH:                INSURANCES.               The “sublessee” undertakes to take out
insurance again third party and civil responsability damages to insure the
possible damages, irrevocably pointing out as beneficiary the “sublessor” for
the portion of the subleased building.

 

FIFTEENTH:         DAMAGES AND THEFT.                      The “sublessor” shall not be held responsible
for the security of the personal belongings that the “sublessee” might
introduce within the subleased premises.

 

SIXTEENTH:        MOVING OUT AND RELEASE.                      In the case that the “sublessee” does not wish
to carry on occupying the premises, subject of the present agreement, he shall
have, to submit likewise, in writing to the lessor, 60 days before the
termination of the present agreement, the date of the intended early
termination of the present agreement, by way of a notifying letter signed by
his legal representative in which he notifies his decision to hand over the
subleased property, mentioning the day and hour at which the physical handing
over shall be verified. This delay shall start to run as from the date at which
the “sublessor” receives and signs such notification.

 

In
accordance to the above mentioned, THE “SUBLESSEE” undertakes to certify,
before the handing over of the premises, that all types of rental charges are
paid up.

 

At the
time of certifying all the herein mentioned, it shall be signed a settlement
agreement of the sublease, in which shall be mainly mentioned the inexistence
of any pending obligation from both parties. Only respecting all what is
mentioned in this sub-section, THE “SUBLESSOR” shall receive the subleased
premises.

 

SEVENTEENTH: JURISDICTION AND DOMICILE.                          For all what concerns the interpretation and
the fullfilment of the present agreement, the parties hereby expressely agree
to submit any disputes, claims referring from this agreement, to the Court of
Justice of the Tribunals of the City of Mexico, Federal District, which shall
be the only competent ones, undertaking to abstrain from any other jurisdiction
which might correspond to their present or future domicile, or for any other
reason whatsoever and set their respective domiciles to receive all kind of
communications, as per the following :

 

THE “SUBLESSOR”

 

the
office no. 202, situated on the second floor of the building known as “Corporativo
Polanco”, located at no. 8, Jaime Balmes Ave., in the Borough of Los Morales
Polanco, Postal Code 11510, in the Municipality of Miguel Hidalgo, in the City
of Mexico - D.F. (Federal District).

 

6

 

THE “SUBLESSEE”

 

the
office no. 202, situated on the second floor of the building known as “Corporativo
Polanco”, located at no. 8, Jaime Balmes Ave., in the Borough of Los Morales
Polanco, Postal Code 11510, in the Municipality of Miguel Hidalgo, in the City
of Mexico - D.F. (Federal District).

 

Approved
by the parties reference to the effects and legal force of the content of this
document, they sign it for accordance in one original and four copies in the
margin of all and each of the pages, with exception to this latest one which
they sign at the foot of the page, in the City of Mexico - Federal District, on
December 1st, 2004.

 

 

	
  THE “SUBLESSOR”

  	
   

  	
  THE “SUBLESSEE”

  
	
   

  	
   

  	
   

  
	
  (illegible signature)

  	
   

  	
  (illegible signature)

  
	
   

  	
   

  	
   

  
	
  maderas y sintéticos de mexico, S.

  A. de c. v.

  	
   

  	
  forestal terranova mexico, S. A. de c. v.

  
	
  Mr. Jaime Esteban Rojas Sateler

  	
   

  	
  Mr. Michel C. Asselot

  
	
  Legal Representative

  	
   

  	
  Legal Representative

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00093-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00093-of-00352.parquet"}]]