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Latvijas Finieris Expanding Production in Estonia

Riga, Latvia 25 March 2015 -- Latvijas Finieris Group is expanding the operations of the factory Kohila Vineer near Tallinn in Estonia by developing full cycle production of plywood and related products. The project is to be completed until Autumn 2016.

The expanded capacity will reach 45 thousand cubic meters of birch plywood per annum. The project includes construction of additional production facilities of 14 000 square metres and installation of new equipment as well as recruitment of 180 new employees. Project investments are to be financed by both the company's own funds and by attracting a loan from long-term partners.

Jānis Ciems, CEO of Latvijas Finieris: „Total investments of Latvijas Finieris in Estonia since 2011 will reach 80 million EUR, including this project. This facilitates the processing of Baltic region birch resources into valuable products and enhances competitiveness in the demanding global market, as well as brings innovations to the plywood production technology."

Investments are planned in the energy sector as well - factory heat supply will be ensured by a biomass boiler, leaving the existing gas boiler as a backup heat source only.

Factory development continues according to the latest technology standards and best practices in the world - a leader of birch plywood production equipment Raute Corporation (Finland) as well as other industry-leading companies are involved in the project implementation.

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