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Tuesday, 23.04.2024, 15:23
The Pindstrup Group opens the wood fiber plant in the Baltics
The total
investment in the plant reached EUR 5 mln, of which EUR 1,2 mln are from the
Investment and Development Agency of Latvia (LIAA), while the rest was financed
by the company. This investment will make it possible to significantly increase
the production volume and exports while also increasing the number of employees
at the company by 25 persons.
"Today I am very pleased to take part in the opening of
new fiber plant of SIA Pindstrup Latvia.
It is not just a new plus sign for Latvia’s export balance. It is more than
plain tax revenue, more than new added value to wood chips, more than
environment-friendly production in Latvia. I would like to emphasize that it
means new well-paid jobs,” said the Minister of Finance Dana Reizniece-Ozola during the opening.
Simon Søe,
CEO of Pindstrup Latvia, expressed
his satisfaction with what has been achieved: “The new wood fiber plant is a
very important project for the entire Pindstrup
Group. It took more than three years to complete the plant, and we are very
proud of what has been accomplished. There is nothing like this plant in the
Baltics, and it will allow Pindstrup to
expand the production of growing media by 30 %.”
As one of
the world’s leading producers of growing media, the Pindstrup Group remains dedicated to developing and delivering
substrates of the highest quality to its customers in more than 100 countries
around the world. Research and trials have shown that great results can be
achieved when growing plants in substrates that contain a mix of peat and wood
fibre. For this reason the Pindstrup
Group has developed Forest Gold – wood fibre mixed with Pindstrup peat, and decided to emphasize
this dedication by investing in a state-of-the-art plant.
The Pindstrup Group is one of the world’s
leading producers of growing media for professional horticulture. Founded in
1905, the Pindstrup Group is 100 %
family-owned and is based in Denmark. It has exports to more that 100 countries
across the globe. Production facilities are located in Estonia, Latvia, Russia,
Spain, Denmark and the UK, and the company has sales offices in China, North
and South America, Russia, Southeast Asia and many countries across Europe. The
Pindstrup Group employs approx. 820
people.
SIA Pindstrup Latvia is a Latvian subsidiary
of the Pindstrup Group and employs
approx. 500 people. In 2015 Pindstrup Latvia was awarded with a
special prize (a chess board) from the then Minister of Economics, now Finance
Minister, for creating well-paid jobs.