Lahti, Finland, 2016-07-20 13:30 CEST (GLOBE NEWSWIRE) -- RAUTE CORPORATION STOCK EXCHANGE RELEASE 20 JULY 2016 at 2:30 p.m.
RAUTE RECEIVED ORDERS WORTH EUR 25 MILLION TO FINLAND
Raute Corporation has received orders worth approximately EUR 25 million from Metsä Wood, the Wood Products Business Area of Metsä Group. The orders are related to the investment program resolved and disclosed by Metsä Group on June 8, 2016.
The orders now received by Raute consist of a Laminated Veneer Lumber (LVL) production line to be delivered to the Metsä Wood's LVL mill in Lohja, and machinery and equipment for a birch veneer production plant to be set up in Äänekoski. Installation and commissioning of the new LVL line in Lohja will start during the first quarter of 2017, and installation and commissioning of the birch plywood production line in Äänekoski will start during the fourth quarter of 2017.
The cooperation between Raute and Metsä Wood has continued for a long period and the production processes in Metsä Wood's plywood and LVL mills have mostly been implemented by machinery and equipment delivered by Raute. Raute and Metsä Wood also have wide cooperation in the maintenance and development of the production processes. Raute's strong expertise in the entire production processes of LVL and plywood can be seen in the wide scope of orders received by Raute. Raute's previous successfully completed deliveries to Metsä Wood and other operators in the LVL and plywood industries were the convincing factors, resulting in Raute to receive the orders.
Negotiations and planning of projects concerning other parts of the projects disclosed by Metsä Group on June 8 continue actively.
The present orders worth EUR 25 million have no impact on Raute's previously disclosed outlook for 2016. Based on the existing order book and the prevalent market situation, Raute's net sales and operating profit for 2016 are expected to remain at the same level as in 2015.
RAUTE CORPORATION
Tapani Kiiski
President and CEO
FURTHER INFORMATION:
Mr. Tapani Kiiski, President and CEO, Raute Corporation, mobile phone +358 400 814 148
Potential call requests to Mr. Tapani Kiiski through: Eija Salminen, Group Executive Assistant, tel. +358 50 3801517
DISTRIBUTION:
Nasdaq 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 customer’s 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 the Nastola area of Lahti, Finland. Its other production plants are in Kajaani, Finland, the Vancouver area of Canada and in the Shanghai area of China. Raute’s net sales in 2015 were EUR 127.3 million. The Group’s headcount at the end of 2015 was 646.
More information on the company can be found at www.raute.com