"Stora Enso" invests 50 million lats in Baltics this year
The world^apostrofs;s third-largest timber industry company "Stora Enso" invests this year in the Baltic region 50 million euros (33.3 million lats) to increase production volume and expand post-production activities in the sawmills and timber processing plants, the Estonian "Aripaev" wrote today.
The world's third-largest timber industry company "Stora Enso" invests this year in the Baltic region 50 million euros (33.3 million lats) to increase production volume and expand post-production activities in the sawmills and timber processing plants, the Estonian "Aripaev" wrote today.
The "Stora Enso" Baltic production group deputy president Seppo Vainio said that 21 million euros are already invested in the building the Lithuania's Alytus sawmill.
This year's investments are part of a larger program that should increase the production volume of "Stora Enso's" sawmills in Baltics from 1.3 million cubic meters a year to 1.8 million cubic meters by 2006.
Vainio did not reveal the investment volumes of the coming years but said that the money will be invested in its existing sawmills: Imavere, Napi, Sauga, Paikuse, Viljandi in Estonia and Launkalne in Latvia.
"Stora Enso" has also launched wholesale firm of timber products Puumerkki this autumn in Baltic states which will start selling the production of the industries.
In Estonia, "Stora Enso" owns nearly 2,500 hectares of forests and doesn't plan to sell it at this point. "Stora Enso" group companies in Estonia employ nearly 1,200 people. The concern operates besides timber industry also in paper production and has nearly 42,500 employees in 40 countries.
The "Stora Enso" Baltic production group deputy president Seppo Vainio said that 21 million euros are already invested in the building the Lithuania's Alytus sawmill.
This year's investments are part of a larger program that should increase the production volume of "Stora Enso's" sawmills in Baltics from 1.3 million cubic meters a year to 1.8 million cubic meters by 2006.
Vainio did not reveal the investment volumes of the coming years but said that the money will be invested in its existing sawmills: Imavere, Napi, Sauga, Paikuse, Viljandi in Estonia and Launkalne in Latvia.
"Stora Enso" has also launched wholesale firm of timber products Puumerkki this autumn in Baltic states which will start selling the production of the industries.
In Estonia, "Stora Enso" owns nearly 2,500 hectares of forests and doesn't plan to sell it at this point. "Stora Enso" group companies in Estonia employ nearly 1,200 people. The concern operates besides timber industry also in paper production and has nearly 42,500 employees in 40 countries.
