Banks, Covid-19, Financial Services, Latvia, Loan, Markets and Companies, Woodwork

International Internet Magazine. Baltic States news & analytics Friday, 19.04.2024, 16:00

Latvijas Finieris refinances EUR 20 mln loan

BC, Riga, 07.05.2020.Print version
Birch plywood producer Latvijas Finieris has refinanced a loan worth EUR 20 million. SEB Banka has refinanced EUR 10 million of the Latvijas Finieris loan for a term of seven years, and OP Corporate Bank has refinanced EUR 10 million for a five-year term, LETA was told at SEB Banka.

The bank's representatives said that Latvijas Finieris will use the financing to keep developing its business despite challenges of the European Forestry block for the last year and a half and uncertainties brought about by the Covid-19 pandemic. 


Latvijas Finieris board member Pauls Abele said that the refinancing of the EUR 20 loan had been planned several years ago. 


As reported, Latvijas Finieris turned over EUR 249.238 million in 2018, which is an increase of 11 percent against a year before, while the company’s profit grew 23.5 percent year-on-year to EUR 14.682 million, according to information available at Firmas.lv.


The company's performance results for 2019 have not been released yet. 


Latvijas Finieris, established in 1992, 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.




Other articles:

← Back↑ Up

Русский
Search site