OREANDA-NEWS. June 25, 2012. Key performance indicators of Latvijas Finieris in 2011 are marked by stability. The Company reached a turnover of LVL 118.6 million (USD 215.5 million) and sold 208,000 cubic meters of plywood, exceeding the results of previous year by 22% and 6%, respectively. Several best results were achieved on a monthly basis. One of the most important – in March 2011, Latvijas Finieris reached LVL 1 billion (USD 1.8 billion) of exports since incorporation in 1992, as the company said in a press release.

Latvijas Finieris market share remained stable despite fluctuations in European birch plywood market. Maintaining quick and flexible supplies to clients is important. During the year Latvijas Finieris has hired around 100 new employees. Altogether the Company employs over 2 000 people in Latvia.

Continuing its investment policy, Latvijas Finieris has ensured a well-balanced regional development together with availability and effective utilisation of the most important raw material – birch wood – on a pan-Baltic level. Latvijas Finieris strengthens itself as a leading producer of birch plywood on a Baltic scale – existing five factories in Latvia and one in Lithuania are now complemented by the factory in Estonia.

Uldis Bikis, CEO of Latvijas Finieris: "Understanding availability of resources and interests of stakeholders in the Baltic region will help us to maintain stability and quality in the whole product supply chain. Moreover, in order to get higher returns from forest resources, we have to think about widening the traditional product, thus adding more and more value to birch wood."