Nastola, Finland, 2014-06-26 07:30 CEST (GLOBE NEWSWIRE) --
RAUTE CORPORATION STOCK EXCHANGE RELEASE 26 JUNE 2014 at 8:30 a.m.
RAUTE RECEIVED A EUR 23 MILLION ORDER FROM EWP MANUFACTURER STEICO
Raute Corporation has received an order worth EUR 23 million for Laminated Veneer Lumber (LVL) equipment from Steico Społka z o.o., the Polish subsidiary of the German leading timber construction systems and wood fiber insulation manufacturer Steico. The ordered equipment will be delivered to Steico's future LVL mill in Czarna Woda, Poland. The order comprises equipment for the entire LVL production process starting from a peeling line and all the way down to a billet handling line, including also a drying line, dry veneer grading, composer, scarfing, green and dry side product handling, a LVL lay-up line and a hot press. The equipment represents the latest technology in its field. Raute's technology excellence and innovation, efficient customer support services as well as references of successful LVL line deliveries all around the world, were the convincing factors, resulting in Raute to receive the order. The annual capacity of the future LVL mill will be 80,000 cubic meters LVL billets. In close co-operation Raute and Steico have collaborated in the development of this new modern production concept.
Steico is one of the leading wooden construction material producers in Europe. The company´s current product offering comprises wood fiber insulation materials, sarking and sheathing boards, ETICS (external thermal insulation compound systems), I-joists and hardboards. Steico has been using outsourced LVL in its product offering already previously, but in terms of production efficiency, this project opens new growth opportunities to the company. Raw material for Steico's LVL will be mostly Polish pine, which has proven to provide good technical characteristics for structural LVL. Among other product supply advantages, the new LVL mill will allow for a quicker and more flexible delivery to UK, Western and Central Europe's growing LVL market.
The machinery will be manufactured at Raute's Nastola, Shanghai and Kajaani plants, and delivered mostly in the first quarter of 2015. The full scale production of the future LVL mill is planned to be reached by end of 2015.
The present deal has no impact on Raute's outlook for 2014. Raute's net sales will grow and the operating profit will improve from the year 2013.
President and CEO
Mr. Tapani Kiiski, President and CEO, mobile +358 400 814 148
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 technology 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 of Canada, in the Shanghai area of China, and in Kajaani, Finland. Raute’s net sales in 2013 were EUR 83.3 million. The Group’s headcount at the end of 2013 was 534.
More information about the company can be found at www.raute.com.