Kohila Vineer to open second phase of €80m plant extension ({{commentsTotal}})

OÜ Kohila Vineer, a plywood manufacturing company belonging to the Latvian Latvijas Finieris Group, will be opening the secoond phase of an 80 million euro factory extension project in Kohila, Rapla County on Nov. 15.

The birch plywood plant, with an aggregate floor area of almost 18,000 square meters, will introduce products of the Riga-based brand in Estonia.

"After two stages of investment worth altogether 80 million euros, we have a state-of-the-art birch plywood factory that is ready to process 160,000 cubic meters of wood per year," Latvijas Finieris said.

The plant will employ a workforce of 200.

Andres Lahe, a board member of Kohila Vineer, said in June that the plant will employ 230 people and that the extension is expected to quadruple its annual revenue to 40 million euros.

Lahe said the company expects to start manufacturing veneer at full capacity at the beginning of 2017. To satisfy increased demand for energy arising from the manufacture of veneer, a new scrap wood-fueled boiler will be installed on the plant's grounds.

Latvijas Finieris Group had a turnover of 196.5 million euros in 2015, during which it also invested 42.3 million euros in product development. The group, which also has plants in Latvia, Lithuania and Finland, employs 2,500 people.

Editor: Editor: Aili Vahtla

Source: BNS