Raute received orders worth approximately EUR 30 million to Lithuania
RAUTE CORPORATION INSIDE INFORMATION 12 MAY 2021 at 3:00 p.m.
RAUTE RECEIVED ORDERS WORTH APPROXIMATELY EUR 30 MILLION TO LITHUANIA
Raute Corporation has received orders worth approximately EUR 30 million from VMG Group to Lithuania. The orders consist of production machinery for a complete LVL process. The machines will be delivered to VMG’s coming LVL mill in Akmene, Lithuania. The ordered machinery and equipment will be delivered during Q1-Q3/2022 and production on the new lines will be started during Q3/2022. The equipment will be engineered and produced mainly in Raute's main unit in Lahti, Finland and in the company’s partner network. The grading and quality control equipment will be delivered by Raute’s units Kajaani, Finland and Pullman, Washington, USA.
VMG, https://vmg.eu/en, is a Lithuania based private group of companies who produces various wood products in some 25 points of operation mostly in Lithuania and Belarus. VMG employs some 4500 people. The VMG Group and Raute have a long-lasting co-operation. The most recent deliveries include a peeling line to VMG’s plant in Mogilev, Belarus.
Raute's strong expertise, leading technology and good references in the entire production processes of LVL can be seen in the wide scope of orders received by Raute.
The present new order has no impact on Raute's outlook for 2021. Raute’s net sales are expected to grow in 2021 and operating profit to improve from 2020.
RAUTE CORPORATION
Tapani Kiiski
President and CEO
FURTHER INFORMATION:
Mr. Tapani Kiiski, President and CEO, mobile +358 400 814 148
DISTRIBUTION:
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF:
Raute is a technology and service company that operates worldwide. Raute’s customers are companies operating in the wood products industry that manufacture veneer, plywood, LVL (Laminated Veneer Lumber) and sawn timber. Its technology offering covers the entire production process for veneer, plywood and LVL and special measurement equipment for sawn timber. As a supplier of mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Additionally, Raute’s full-service concept includes technology services ranging from spare parts deliveries to regular maintenance and equipment modernizations. Raute’s head office is located in Lahti, Finland. The company’s other production plants are located in Kajaani, Finland, the Vancouver area of Canada, the Shanghai area of China and in Pullman, Washington, USA. Raute’s net sales in 2020 were EUR 115.0 million. The Group’s headcount at the end of 2020 was 751. More information about the company can be found at www.raute.com.