Baltic Export, Good for Business, Latvia, Markets and Companies, Woodwork
International Internet Magazine. Baltic States news & analytics
Thursday, 25.04.2024, 04:31
Vika Wood sees 0.8% increase in turnover in 2016
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The company’s management said in its report that the recent warm winters
left a negative impact on demand for the company’s byproduct – shingles, while
the pulp market was stagnating. At the same time, Vika Wood increased production by 1.7%.
Last year Vika Wood sold most of
its products in Japan (28.3%), Latvia (22.9%), Estonia (12.2%), Germany (6.9%),
the UK (4.5%), Lithuania (4.3%), Egypt (3.9%), the Netherlands (3.7%). In total
the company’s products were exported to 32 countries.
The company also invested EUR 640,941 in development last year.
Vika Wood is one of
Latvia’s leading, and largest, sawmills with a total annual production of about
280,000 m3 of sawn timber. Vika Wood
is located in Latvia's Kurzeme Province near Talsi (western Latvia).
The company was established in 1995 and has a share capital of EUR
8,618,397. According to Firmas.lv, the company's shares are owned by Iceland's
Norvik Hf.
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