Nastola, Finland, 2012-07-30 12:00 CEST (GLOBE NEWSWIRE) --
RAUTE CORPORATION STOCK EXCHANGE RELEASE 30 July 2012 at 1:00 p.m.
Correction:
There is a translation error in the English translation of Raute's stock exchange release published today at 8:45. Correction: Instead of "poplar" there must read "beech" in three sentences of the second paragraph.
RAUTE CORPORATION STOCK EXCHANGE RELEASE 30 July 2012 at 8:45 a.m.
RAUTE RECEIVED A EUR 14 MILLION ORDER FROM GERMANY
Raute Corporation has received an order worth EUR 14 million from the German company Pollmeier Furnierwerkstoffe GmbH & Co.KG. The ordered equipment will be delivered to Pollmeier's future LVL mill at Creuzburg, Central Germany. The order comprises a peeling line, a drying line and an LVL lay-up line. The equipment represents the latest technology in its field. Being the leading supplier of LVL lines globally and the successful tests with the customer's raw material were the convincing factors resulting in Raute to get the deal.
Pollmeier is the biggest producer of poplar sawn timber in Europe. With the new investment Pollmeier will broaden out its supply to veneer based products. Poplar will also be the raw material at the new LVL mill. This will be a completely new application for poplar and facilitate the further value adding of this high quality raw material. The new LVL mill will be the first in Central Europe, where the demand for wood in building and furniture - and consequently for LVL - is believed to increase in the coming years.
The machinery will be manufactured at Raute's Nastola, Shanghai and Kajaani plants, and delivered in the spring 2013.
The present deal has no impact on Raute's outlook for 2012. Raute's net sales will increase significantly on the comparison year 2011 and the operating profit will be clearly positive.
RAUTE CORPORATION
Tapani Kiiski
President and CEO
FURTHER INFORMATION:
Mr. Tapani Kiiski, President and CEO, Raute Corporation, tel. +358 3 829 3560, mobile +358 400 814 148
Ms. Arja Hakala, CFO, Raute Corporation, tel. +358 3 829 3293, mobile +358 400 710 387
DISTRIBUTION:
NASDAQ OMX 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 and LVL (Laminated Veneer Lumber). The technology offering covers machinery and equipment for the entire production process. 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 services ranging from spare parts deliveries to regular maintenance and equipment modernizations. Raute’s head office is located in Nastola, Finland. Its other production plants are in the Vancouver area in Canada, in the Shanghai area in China, and in Kajaani, Finland. Raute’s net sales in 2011 were EUR 74.3 million. The Group’s headcount at the end of 2011 was 464.
More information about the company can be found at www.raute.com.