Lahti, Finland, 2016-11-09 10:45 CET (GLOBE NEWSWIRE) --
RAUTE CORPORATION STOCK EXCHANGE RELEASE 9 NOVEMBER 2016 at 11:45 a.m.
RAUTE RECEIVED ORDERS WORTH EUR 19 MILLION TO ESTONIA
Raute Corporation has received orders worth approximately EUR 19 million from Metsä Wood, the Wood Products Business Area of Metsä Group. The orders consist of machine lines to be delivered for a plywood mill to be set up by Metsä Wood in Estonia and services related to the installation and commissioning of the lines. The machine lines will be delivered and the installation and commissioning of the plywood mill will start at the beginning of the year 2018.
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 plywood industries were the convincing factors, resulting in Raute to receive the orders.
The order now received by Raute is related to the investment program resolved and disclosed by Metsä Group on June 8, 2016. As a part of the investment program Raute has previously received orders worth altogether some EUR 25 million for an LVL production line and machinery and equipment for a birch veneer production line to Finland. These orders became effective at the end of July.
The present order worth EUR 19 million has no impact on Raute's previously disclosed outlook for 2016. 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
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.