International Internet Magazine. Baltic States news & analytics
Thursday, 08.12.2016, 02:09
Balta non-life insurer has paid a EUR 4.85 mln indemnity to Latvijas Finieris wood processing company for the damage brought by a fire that destroyed the company's Lignum plant in 2014, reports LETA.
Keyword tags: Financial Services, Industry, Insurance, Markets and Companies, Woodwork
Latvian wood-processing group Latvijas Finieris expects its new birch plywood plant in Kohila, Estonia, to achieve a turnover of EUR 10 mln this year and to quadruple the figure over the next two or three years, Uldis Bikis, CEO of Latvijas Finieris, said in an interview with LETA.
The new SCA Terminal was officially inaugurated during a reception on November 11th at the Port of Kiel’s Ostuferhafen. “The new terminal is a milestone in the development of the port of Kiel”, federal state capital Lord Mayor Dr Ulf Kämpfer said BC.
An extension of the plywood mill of the Finnish industrial group UPM in the south Estonian town of Otepaa, built at a cost of approximately 40 mln euros, was inaugurated on Friday, writes LETA/BNS.
OU Kohila Vineer, a plywood manufacturing company of the Latvijas Finieris group of Latvia, will open the second phase of a 80 million euro factory extension project at Kohila, Estonia on Nov. 15, reports LETA/BNS.
Latvijas Finieris opens a new Impregnation Plant in Riga on 27 October 2016. Its construction was started at the end of previous year. The new plant will employ a modern and environmentally friendly technology for producing impregnated paper with a higher added value, said LF representative.
The global timber price index GSPI was up 4.2% in the 2Q/16 after having fallen to the lowest level since 2009 in early 2016, according to the Wood Resource Quarterly (WRQ), WRQ representative Hakan Ekstrom informs BC.