Nastola, Finland, 2015-04-24 14:00 CEST (GLOBE NEWSWIRE) --
RAUTE CORPORATION STOCK EXCHANGE RELEASE 24 APRIL 2015 at 3:00 p.m.
RAUTE RECEIVED A NEW ORDER WORTH EUR 13 MILLION TO ESTONIA
Raute Corporation has received orders worth approximately EUR 13 million for the machinery and equipment for the expansion of UPM Plywood's mill in Otepää, Estonia. The most important machinery and equipment included in the scope of delivery are veneer peeling, composing and patching lines, a veneer dryer and a plywood lay-up line. The deal also includes machine vision and moisture analyzers and a management information system. The deliveries will take place during the spring and summer 2016. The machinery and equipment will be manufactured at Raute's Nastola, Shanghai and Kajaani plants.
Raute's strong expertise concerning the entire production process of plywood manufacturing, and especially its critical parts, can be seen in the scope of the delivery. The previous deliveries successfully completed by Raute to UPM Plywood's various mills and other reference deliveries had an influence when selecting the supplier.
UPM Plywood is the leading plywood manufacturer in Europe with production, in addition to Finland, in Estonia and Russia. The machinery and equipment ordered from Raute are a part of the Otepää mill investment program, through which the annual capacity of the mill will be increased up to 90,000 cubic meters.
The present deal has no impact on Raute's outlook for 2015. Raute’s 2015 net sales are expected to grow clearly and operating profit is anticipated to improve clearly from the year 2014.
RAUTE CORPORATION
Tapani Kiiski
President and CEO
FURTHER INFORMATION:
Mr. Tapani Kiiski, President and CEO, Raute Corporation, mobile +358 400 814 148
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 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 2014 were EUR 94.0 million. The Group’s headcount at the end of 2014 was 587.
More information about the company can be found at www.raute.com