Latvijas Finieris’s 2023 turnover reached €400 million
In 2023, Latvijas Finieris’ sales reached 404.8 million euros, marking a 15% increase compared to the previous year. Meanwhile, EBITDA rose by 40% to 78 million euros. According to the…
Riga Wood Finland achieves record turnover in 2023
Riga Wood Finland Oy saw a notable increase in turnover last year, rising 33% to reach €19.4 million. Operating profit also surged by 63% to €708,000. Riga Wood Finland Oy…
Latvijas Finieris starts new lathe at Kuldiga veneer mill
Latvijas Finieris has begun test peeling at its new veneer mill in Kuldiga, western Latvia. The mill stands on the same site as the company's existing timber yard, which has…
AmberBirch expands veneer production to 90 tm3
AmberBirch, a Latvian birch veneer producer, is set to double its production capacity to 90,000 m3 by mid-2025 with a significant investment exceeding 40 million euros. This expansion entails an…
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Latvian state forest LVM abandons FSC and focuses in PEFC
The Latvian state forest organization, LVM, is dissatisfied with FSC International's decision to suspend the valid forest standard and introduce a temporary standard. LVM argues that the temporary standard was…
VMG Lignum inaugurates its new LVL mill Lithuania
VMG Lignum has opened its new plant in the Akmene Free Economic Zone in the northern part of Lithuania. The company hosted an opening ceremony for nearly 500 people in…
Latvijas Finieris open for investments outside plywood
In a Dienas Bizness interview, Mr. Mārtiņš Lācis from Latvijas Finieris states that despite the uncertainty in the birch plywood market, the company is still proceeding with its investment plan.…
Lithuanian prosecutors suspect nine companies bypassing sanctions
Lithuanian authorities have submitted evidence to prosecutors implicating nine Lithuanian companies in violating EU sanctions. An investigation by OCCRP (Organised Crime and Corruption Reporting Project) exposed the firms' deceptive practice…
Latvijas Finieris has delivered LNG plywood for 20 years
Latvijas Finieris began delivering birch plywood to LNG (liquefied natural gas) shipyards in the early 2000s. Today, five of its mills in Latvia and Estonia are certified to the production…
Latvijas Finieris expands its Verems mill
Latvijas Finieris has signed a 29 million euros contract with machinery supplier Raute. The deal concerns technology delivery to Latvijas Finieris’ Verems mill in Latvia. With the investment, Verems’ production…