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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 10:29

Aggregate turnover of Latvian wood-processing companies likely to grow in 2016

BC, Riga, 16.12.2016.Print version
In 2016, the Latvian wood-processing companies united in the industry association Latvijas Koks (Latvian Timber) will have increased their aggregate turnover against last year, the association's executive director Andris Plezers told LETA.

In his words, the members of Latvijas Koks association closed the first nine months of this year with EUR 364 mln in turnover, up 11% against the same period last year. The association's annual turnover increase is also expected to be similar to the nine-month result. The companies' nine-month exports grew by nearly EUR 30 miln y-o-y to EUR 278 mln.


Plezers said that the Latvian wood-processing companies have been showing good results this year as their products - plywood and chipboard - are in high demand in the world and the Latvian producers are globally competitive.


The main drivers of the industry's growth have been large wood-processing companies like Latvijas Finieris veneer company and chipboard producer Kronospan Riga, which have shown very strong results this year, but the performance of other companies has not been bad either.

In Plezers' words, this year has been quite difficult but not bad for the timber and furniture producers, as the companies have been working hard, fighting for their positions and successfully defended them.


Latvijas Koks association unites wood-processing companies and furniture producers, and the largest among them are Latvijas Finieris plywood producer, its subsidiary Verems, and Kronospan Riga chipboard producer.







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