Being aware of own capabilities and capacity utilisation rate, this year Latvijas Finieris is planning a small increase in exports and service of domestic market in accordance with the market demand.
Last year, Latvijas Finieris subsidiary in Finland acquired a birch plywood factory which was a strategic investment for the Group, expanding production scale and becoming a Baltic Sea Region company.
The second phase of construction has been started at the factory Kohila Vineer near Tallinn in Estonia. 180 new employees will be recruited as a result of project implementation. Total investments of Latvijas Finieris in Estonia since 2011 will reach Euro 80 million, including this project.
In order to properly and effectively use the available Baltic birch wood resources, a peeled veneer factory project has been started in Kuldiga with a gradual development perspective – initially creating a wood-yard, then ensuring roundwood sorting and processing.
Creation of a new chemical products factory with an innovative paper impregnation line has been started. The new line is designed and manufactured by a special order, equipped with the most modern technologies to ensure high environmental performance and improved energy efficiency. Euro 7 million will be invested in the new facility.
The main objective of the Group until 2020 is to implement Euro 280 million investments into development of products and production processes, as well as raising work efficiency and quality, considering increase in compensation levels. Return on investments in the Latvian and Estonian factories is expected in 2017, as a result of expanding plywood exports from both countries.
