Raute receives order of EUR 44.6 million to France
RAUTE CORPORATION PRESS RELEASE May 10, 2023 at 09:00 a.m.
Raute receives order of EUR 44.6 million to France
Raute Corporation has signed a contract worth EUR 44.6 million with the THEBAULT Group, France for the technology delivery of a new greenfield LVL (Laminated Veneer Lumber) production plant. Following the terms of the contract, the project has become effective by the signing of a delivery contract.
This project was earlier referred to in the stock exchange release dated March 9, 2023 (Raute plans directed share issue, rights issue, and junior loan support targeted growth and strengthening of capital structure and proposes combination of share classes) and in the stock exchange release dated April 25, 2023 (Raute announces the receipt of an order of EUR 29 million to Latvia and provides update concerning earlier announced customer project negotiations).
The plant, which will be the first LVL plant in France, will eventually produce 100,000 m3 of LVL entirely ''Made in France'', with this agreed delivery covering a first phase at 70,000 m3.
The order for Raute’s technology includes all the production processes from veneer peeling to LVL billet handling, including extensive service package. The lines are a complete solution compiled of the latest most automated R7-Series technologies.
The ordered machinery and equipment will be delivered during 2024. They will be manufactured at Raute’s production units in Lahti and Kajaani in Finland, and in the company’s partnership network.
This new plant, which will be in full operation in 2026, is part of THEBAULT’s development to extend its offering particularly to the construction industry. Driven by a fast-growing market, this French production of engineered wood products will expand the offer of bio-sourced materials contributing to the decarbonization of the building sector.
“THEBAULT is our long-term customer, and we are very pleased to continue our close partnership with them on this new project. Raute is committed to provide its latest innovations and complete end-to-end expertise to build a new world-class LVL plant for THEBAULT”, says Mika Saariaho, President and CEO of Raute.
“After partnering with Raute for three generations of our family history, collaborating again with Raute in this important investment for our company is a guarantee for success and sign of trust, because Raute is the only equipment supplier in the world able to design, engineer and build the equipment for all processes in an LVL plant”, says Antoine THEBAULT, President and CEO of THEBAULT Group.
The THEBAULT Group, a family-owned industrial company, is the leading French plywood manufacturer with annual production of 125 000 m³ making almost 50% of the total domestic plywood production and ranks among the top five European producers. 70% of the produced plywood is exported, mainly in Europe but also in the rest of the world. The group employs 400 people and generated a turnover of €100 million (2022). www.groupe-thebault.com/en/
RAUTE CORPORATION
Mika Saariaho
President and CEO
FURTHER INFORMATION:
Mr. Mika Saariaho, President and CEO, tel. +358 40 1549393
RAUTE IN BRIEF – Making Wood Matter
Raute is the partner to future-proof the wood industry. Our technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, we offer full-scale service concept ranging from spare parts to regular maintenance and modernizations. Our innovative hardware and software solutions are designed to support our customers’ efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute’s head office and main production is located in Lahti, Finland. The company’s other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute’s net sales in 2022 were EUR 158.3 million. The Group’s headcount at the end of 2022 was 778. More information about the company can be found at www.raute.com