Aug 03, 2005. /Lesprom Network/. Raute Corporation diversifies its business into sliced veneer technology and has bought the sliced veneer production technology of the Italian Intercomer Srl through Concordato Preventivo proceeding. Raute plans to expand its expertise into the production technology of sliced veneer used in furniture and interior design industries. Sliced veneer industry will be developed into a new customer industry for Raute alongside the current customer industries plywood, laminated veneer lumber (LVL), engineered wood flooring and overlaying. The transaction comprises technologies for slicing and drying veneer and cutting of veneer stacks. Raute evaluates the bought technology to cover in value around 70% of the production machinery of a sliced veneer mill. The estimated value of the global sliced veneer market is around Euro 6 billion and its annual growth is projected around 3-4%. The annual machinery investments in the sliced veneer industry are estimated to be close to Euro 100 million of which Raute targets a 5% share in the coming years. Producing veneer by slicing is a technology for the production of hardwood face veneer used in furniture and interior design. The sliced veneers are glued on the surface of particle board, MDF or plywood produced of cheaper wood species. The production of sliced veneer comprises the following sub processes: log handling, veneer slicing, drying, and cutting of veneer stacks. The Italian Concordato Preventivo is a proceeding validated by court of justice, in which the creditors of a company in financial difficulties agree on the realization of the assets of the estate and the division of funds remaining in the estate. Raute is a leading technology company in its sector, and serves the wood products industry worldwide. Raute's core business comprises the manufacturing processes for veneer-based products. The project deliveries include complete plants, production lines, and individual machines. The full-range service concept includes spare parts, maintenance, and modernization services, as well as services related to developing the customers' business. Raute's head office and main production unit is in Nastola with other production units in Finland, and in the Vancouver area in Canada. Net sales in 2004 for the wood products business were Euro 73 million and the number of personnel 543.