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Finnish wood company to set up plywood mill in Estonia
BC, Tallinn, 08.06.2016.
Print version
Print versionMetsa Wood, the wood products operation of the listed Finnish Metsa Group, has launched an investment program consisting of a total of 100 million euros in investments in Finland and Estonia, including 50 million euros to build a plywood mill in Estonia, informs LETA/BNS.
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A new birch veneer peeling and drying line is planned to be built at the mill of Metsa Group at Aanekoski, Finland, also for 50 million euros. The veneer produced at that facility would be processed at the new plywood mill in Estonia, Metsa Group said in a disclosure to the stock exchange.
The current birch veneer production line of the Suolahti mill in Finland is planned to be transferred to Estonia.
About 200 new jobs are expected to be created in Estonia and 100 in Finland as a result of the investment.
The group's total annual birch plywood production volume would increase by approximately 30,000 cubic meters. The investment program is planned to be implemented in steps over the period until the end of 2018.
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