Finnish wood company to have Estonian plant running at full capacity by late 2018

Wood being processed for the production of plywood. Photo is illustrative. (Postimees/Scanpix)
7/13/2016 11:54 AM
Source: BNS
Category: Business

Finnish producer and seller of wood products Metsa Wood is in negotiations over building a new 50 million euro plywood mill in either the Pärnu or Tartu region of Estonia, which it expects to have running at full capacity by the end of 2018.

"All the necessary preparations should be completed on a schedule that will allow us to start work at full capacity in Estonia at the end of 2018," Metsa Wood Chief Executive Esa Kaikkonen told BNS.

Kaikkonen said that the company is currently holding talks to determine whether to set up the facility in the Pärnu or Tartu region. "The factory will thus be established in Southern Estonia," he remarked.

"We'll launch construction after we've solved logistical and infrastructure problems and received the building permit," he continued. "Furthermore, it is important to us for the Estonian government to look over our investment plan and give a positive answer."

The company has not yet sought out partners in Estonia but intends to announce a construction procurement tender soon, noted the chief executive.

Metsa Wood announced at the beginning of June that it was to invest 50 million euros in Estonia to build a plywood factory that would create 200 new jobs.

Editor: Aili Sarapik

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