The management of “Latvijas Finiera” has made a decision to start an ambitious expansion project of RSEZ SIA “Verems”, which is part of the concern, in Rēzekne district, the company informs.
As part of this, the factory’s current birch plywood production capacity will be doubled, high value-added products will be developed and jobs will be created for approximately 70 people. The expected amount of investment exceeds 67 million euros and can be evaluated as the largest investment of private capital in the Latgale region in recent years.
The project is planned to be implemented by the end of 2024, and it includes a significant expansion of the production premises in an area of 16,500 m2, symbolically continuing the practice of “Latvijas Finiera” that started in Rēzekne more than 15 years ago to build industrial buildings from wooden structures. Thus, the production buildings of RSEZ SIA “Verems” with more than 2.8 hectares “under the roof” will become the largest wooden industrial building in Latvia.
In order to increase the production capacity of RSEZ SIA “Verems” to 80,000 m3 of finished birch plywood per year, part of the necessary wood resources will be supplied in the form of peeled veneer from the concern’s factory in Lithuania.
In addition to the existing range of birch plywood products, which is known worldwide under the brand name “Riga Wood”, after the implementation of the project, “Verems” will also start producing plywood in a new, 6-foot format. It will be particularly suitable for the small truck segment of the automotive industry, which is currently developing rapidly.
“Small trucks are easier to adapt to work with electric motors, so they are especially suitable for urban environments. By providing environmentally friendly plywood parts, we create a complex view of solving sustainability issues together with our customers,” explains Jānis Staris, Chairman of the Board of RSEZ SIA “Verems”.
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