EU – Baltic States, Latvia, Legislation, Markets and Companies, Mergers and take-overs, Woodwork

He said that the capacity of the Ikea Industry Latvia sawmill is 330,000 cubic meters of sawn pine-tree a year and that with this deal Rettenmaier intends to increase its total sawing capacity from 2.5 million cubic meters to 2.83 million cubic meters.

The sawmill and Rettenmeier Baltic Timber are both located in the same territory, but the sawmill will keep its 215 employees.

In Rimicans' words, the drying capacity of the Ikea Industry Latvia sawmill is 150,000 cubic meters a year, and the company also has a plant making 10,000 cubic meters of solid timber planks a year.

Incukalns Timber, a joint venture of Rettenmeier and Ikea Industry Latvia, will become Rettenmeier's property as a result of the acquisition deal. Incukalns Timber is a logging company employing 49 people.

According to information from Lursoft business database, Rettenmeier Baltic Timber, established in 1994, is involved in wood processing, timber product export and manufacture of furniture parts. The company's share capital is EUR 4.881 million.