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The European Investment Bank (EIB) has provided \u20ac39 million in financing to Latvijas Finieris Group for investments in research and development and to modernise and expand the integrated birch plywood production facility at Lignums and at Verems. The agreement comes under the Investment Plan for Europe supporting sustainable investment, innovation and job creation in Europe.<\/p>\n
\u201cUntil now, our investments have been financed from the company's funds through close and fruitful collaboration with commercial banks. Borrowing from an institutional lender such as the EIB is a new experience for us,\u201d\u00a0tells Pauls \u0100bele, Deputy Chief Executive Officer of Latvijas Finieris.\u00a0\u201cThe EIB loan repayment period is twice as long as what we have previously worked with. This facilitates decisions to invest in projects with a longer payback period, which green technologies, products and R&D often are. Cooperation with the EIB may increase the company's ambitions for new projects and even business directions in the future.\u201d<\/p>\n
Latvijas Finieris\u00a0is a closed joint stock company. Together with numerous subsidiary companies, it forms the multi-sector Latvijas Finieris Group with key business in research and development, production and sales of tailored birch plywood products under the brand Riga Wood. The company's birch veneer and plywood production facilities are located in Latvia, Lithuania, Estonia and Finland. The company's products are delivered to over 60 countries worldwide.<\/p>","protected":false},"excerpt":{"rendered":"
The European Investment Bank (EIB) has provided \u20ac39 million in financing to Latvijas Finieris Group for investments in research and development and to modernise and expand the integrated birch plywood production facility at Lignums and at Verems. The agreement comes … Continue reading