Baltic Export, Investments, Latvia, Markets and Companies, Woodwork

He said that the concern's sales rose 1% in 2015 from selling products with higher value, which was thanks to investments made in previous years.

At the same time, Latvijas Finieris' exports rose 3% to EUR 155 million.

Bikis said that competitive wages had been one of the preconditions of sustainable operations. Last year wages in the company rose by 5% on average, which is about the same as the rise of the average wage in Latvia.

"In 2011 Latvijas Finieris adopted a policy to increase wages by 6-9% on average a year until 2020. This policy also provides for increase of productivity, including by implementation of a large investment program," he said.

Last year the concern also paid EUR 17.4 million in taxes, and invested EUR 42.3 million in development. Investments will be continued also in the coming years.

In 2014, Latvijas Finieris generated EUR 194.1 million in turnover and earned EUR 11.76 million in profit.

Latvijas Finieris, established in 1992, has a share capital of EUR 46.473 million, and employs 1,657 people.

The company produces and sells birch plywood products and provides related services to its customers. Latvijas Finieris is also active in forest management, logging and production of synthetic resin and phenol films. The company exports 95% of the produced plywood products to more than 60 countries.