Latvijas Finieris Group reached a turnover of Euro 250.9 million in 2018, which is 9.5% more than in 2017, as the company said in the press release received by Lesprom Network.
In 2018, almost Euro 26 million were invested in development. According to the Group's medium-term investment program, preparation works for the expansion project of Verems mill have been started and will continue this year. A significant part of the investments has been directed to increase veneer production capacity in the Group's factories in Lithuania and Finland, thus diversifying access to wood resources and ensuring greater co-operation possibilities to forest owners in these countries.
Also, considerable investments were devoted to the development of plywood products, as well as to the efficiency of production processes, resulting in a total productivity increase of more than 10% last year. It has helped to continue the pay growth program launched seven years ago, within which the average gross wage in Latvijas Finieris increased by 7% in 2018.
Latvijas Finieris is one of the largest birch plywood producing companies in the world with production in all Baltic countries and in Finland.