OREANDA-NEWS.  October 11, 2012. With a ceremony of inserting a capsule into the ground in Radviliskis UAB Juodeliai, a wood manufacturer and exporter, currently working in Kalvarija and Kazlu Ruda, launched the construction of a new sawn timber processing department. This will be the most modern sawn timber processing department in the Baltics. The major part of the project, worth LTL 37.5 million in total, will be financed by Ukio bankas, reported the press-centre of Ukio Bankas.

‘In order to continue the company’s successful development it has become necessary to build a new production department as our current capacities have been fully utilised. The new department will enable us to considerably expand our assortment by placing new and high quality products on the market. Successful cooperation with Ukio bankas will enable our company to realise this project and enhance competitiveness both locally and internationally,’ said UAB Juodeliai Managing Director Juozupas Zimnickas.

‘Ukio bankas took a decision to contribute to the financing of UAB Juodeliai new plant after an assessment of the company’s successful performance and economic perspectives of the specific project. We believe that the new plant will help the company to increase production volumes and sales. We also see a positive social aspect – creation of new jobs in Radviliskis, which will contribute to the improvement of social environment and the strengthening of community in that region,’ Gintaras Ugianskis, the Chairman of the Board of Ukio bankas, said.

The new department will specialise in the manufacturing of wood pallet blanks. The new plant is planned to employ 80 persons. It is planned that the company’s new department will commence production in 2014. This will be the most modern sawn timber processing department in the Baltics with a fully computerised wood processing infrastructure. This project will be implemented by using a credit extended by Ukio bankas as well as support from the EU Structural Funds.

The manufacturer of wood pallet blanks is not only actively penetrating new markets (Scandinavia, Turkey, and the United Arab Emirates) but at the same time regularly increases exports to its current clients. The company’s main export markets for the sales of manufactured pallet blanks are Germany (up to 59 per cent), Belgium (10 per cent), the Netherlands (9 per cent), Poland (8 per cent) followed by other countries (7 per cent).

UAB Juodeliai, a market operator since 1994, is currently one of the largest manufacturers of wood pallet elements in the Baltic States. The company specialises in the production of high quality wooden pallets of European standard (Europallets), pallets for the chemical industry and non-standard pallet blanks. During the manufacturing process other by-products suitable for bio-fuel, such as firewood, sawdust, and wood sliver are also produced. Currently the company employs more than 220 employees.

Ukio bankas is Lithuania’s first commercial bank having provided reliable services via its own wide client service network, with nearly 60 units all over the country, for the third decade already. Ukio bankas maintains close cooperation relationships with business enterprises by offering relevant financial solutions and proposals to them. The Bank lays major focus on small and medium-sized business and enterprises operating in the regions of the country.