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SANTIAGO, Nov 21 (Reuters) - Chilean industrial conglomerate Empresas Copec on Friday posted a 29 percent drop in third-quarter net profit compared with a year ago citing lower wood pulp and panel sales, an unfavorable exchange rate and higher costs at some of its business units.
Net profit slipped to $153.5 million, while overall sales fell 3.4 percent to $6.07 billion, and earnings before interest, taxes, depreciation and amortization (EBITDA) dropped 7.1 percent to $512 million.
Copec owns one of the world’s biggest wood pulp producers, the world’s No. 3 fishing company and the main fuel distributors in Chile and Colombia. (Reporting by Anthony Esposito, editing by G Crosse)