Mail Stop 7010 November 17, 2005 Via U.S. mail and facsimile Mr. Enrique Cibie Chief Executive Officer Masisa S.A. 900 Circle Seventy-five Parkway, Suite 720 Marietta, GA 30339 Re:	Masisa S.A. Amendment No. 3 to Registration Statement on Form F-1 Filed November 14, 2005 File No. 333-128694 Dear Mr. Cibie: We have reviewed your amended filing and your response and have the following comments. We welcome any questions you may have about our comments or any other aspect of our review. Feel free to call us at the telephone numbers listed at the end of this letter. 1. We note that you have provided unaudited interim financial statements for the period ended September 30, 2005. Please revise the Summary Financial Data, Capitalization, Dilution, Selected Financial Data and MD&A sections to reflect these interim financial statements. In addition, we note that other disclosures throughout your prospectus are dated as of June 30, 2005. Please update these disclosures as of September 30, 2005. *	*	*	* As appropriate, please amend your registration statement in response to these comments. You may wish to provide us with marked copies of the amendment to expedite our review. Please furnish a cover letter that is filed on EDGAR with your amendment that keys your responses to our comments and provides any requested information. Detailed cover letters greatly facilitate our review. Please understand that we may have additional comments after reviewing your amendment and responses to our comments. Please contact Andrew Schoeffler, Staff Attorney, at (202) 551- 3748 or, in his absence, the undersigned at (202) 551-3760 with any questions. Sincerely, Pamela A. Long Assistant Director cc:	Mr. Richard M. Kosnik, Esq. Jones Day 222 East 41st Street New York, NY 10017 Mr. Nicholas A. Kronfeld, Esq. Davis Polk & Wardwell 450 Lexington Avenue New York, NY 10017 ?? ?? ?? ?? Mr. Enrique Cibie Masisa S.A. November 17, 2005 Page 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549-7010 DIVISION OF CORPORATION FINANCE