Lahti, Finland, 2016-08-22 18:15 CEST (GLOBE NEWSWIRE) --
RAUTE CORPORATION STOCK EXCHANGE RELEASE 22 AUGUST 2016 at 7:15 p.m.
RAUTE RECEIVED AN ORDER OF OVER EUR 17 MILLION TO POLAND
Raute Corporation has received an order worth around EUR 17.5 million for Laminated Veneer Lumber (LVL) equipment from Steico Społka z o.o., the Polish subsidiary of the leading German timber construction systems and wood fiber insulation manufacturer Steico SE. The ordered equipment will be Steico´s second LVL line delivered to Steico's LVL mill in Czarna Woda, Poland, comprising: veneer drying line, dry veneer grading, composing and scarfing lines as well as LVL lay-up line, pre-press and hot press. The equipment represents the latest technology in its field.
This order is related to the second phase of the LVL manufacturing project, which Steico and Raute initiated in June 2014. The equipment ordered under the first phase of that project was delivered, installed and the mill started up in late summer 2015, with LVL production being ramped up during the winter of 2015/2016. This new order reflects Steico's trust in the positive development of the LVL markets, as well as the partnering and successful co-operation between Steico and Raute during the development of the Czarna Woda LVL site. The total annual capacity of Steico's LVL mill will be 160,000 m3 when the new line is in full production, doubling the LVL capacity installed during the first phase in Czarna Woda.
Steico (www.steico.com) 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, hardboards and LVL. Raw material for Steico's LVL will be mostly Polish grown pine, which has proven to provide good technical characteristics for structural LVL.
The machinery will be manufactured at Raute's Nastola, Shanghai and Kajaani plants, and delivered during the first half of 2017. The full scale production of the future LVL mill is planned to be reached by mid-2018.
The present new order has no impact on Raute's outlook for 2016. Raute's net sales and operating profit will be on the same level as in 2015.
RAUTE CORPORATION
Tapani Kiiski
President and CEO
FURTHER INFORMATION:
Mr. Tapani Kiiski, President and CEO, mobile +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 about the company can be found at www.raute.com.