Latvijas Finieris – Evaluation of 2012 Results

13. june, 2013

Year 2012 for Latvijas Finieris was marked by the 20th anniversary since incorporation. Although the Company was registered in 1992, its history is much longer – the origin dates back to 1873.

In 2012, Latvijas Finieris reached a turnover of 179 million EUR and a product sales volume of 220 thousand cubic metres, exceeding the 2011 results by 6% in both cases. The Company created 93 new workplaces.

Latvijas Finieris continued expansion to new market regions by establishing a product development and sales office in Turkey, which is already the eleventh such company outside Latvia. Turkey has a large potential for future growth and wide prospects of trade with countries in the nearby regions. Company in Turkey is a logical continuation of Latvijas Finieris development path and vision – being available to clients around the world.

A new birch veneer factory Kohila Vineer was opened in Estonia last year, after renovation according to the latest technology standards with a view to generate valuable products, save wood and energy resources. Capacity of the renovated factory will reach 70 thousand cubic metres of birch veneer per annum.

This year Latvijas Finieris plans to invest over 21 million EUR in product development, energy efficiency projects and other new technologies.