Riga Wood Finland closer to break-even

Latvijas Finieris’ mill in Vammala, Riga Wood Finland Oy, is improving. It made a cumulative 10 million loss during a five year period between 2015 and 2019. However, in 2019 the loss decreased significantly to -271 000 euros. In 2019, the plywood production in Vammala was ceased and the mill focused exclusively on veneer peeling. The wet, peeled veneer is exported to Latvijas Finieris’ other units for plywood pressing.

Latvijas Finieris bought the Vammala plywood mill in 2014. In 2018, Raute delivered a new peeling line. Currently the peeling capacity is close to 40 000 m3. With the change from plywood mill to veneer mill, the personnel count decreased to a bit over 30 employees.