(MENAFN- GlobeNewsWire - Nasdaq) itemprop="articleBody">
RAUTE CORPORATION STOCK EXCHANGE RELEASE 28 MARCH 2019 at 10:20 a.m.
RAUTE RECEIVED ORDERS WORTH OVER EUR 12 MILLION TO RUSSIA
Raute Corporation has received orders worth over EUR 12 million from CJSC Plyterra to Russia. The orders consist of veneer drying and patching lines and plywood lay-up and overlaying lines to be delivered to Plyterra's birch plywood mill located in Umet, Zubovo-Polyanskiy region in Mordovia. The ordered machinery and equipment will be delivered during the first quarter of 2020 and production on the new lines will be started during summer 2020. The equipment will be engineered and produced in Raute's production unit in Nastola and partly in the Kajaani unit, and also in the company's partnership network. The equipment now ordered from Raute is part of Plyterra's investment program through which the mill's annual capacity will be increased up to 180,000 cubic meters.
The cooperation between Plyterra and Raute has continued since 2012 and Raute has already previously delivered plywood production machinery and equipment to Plyterra in various projects, such as a veneer peeling line in 2018. Also, several Plyterra's production lines are under Raute's preventive maintenance agreement.
Raute's strong expertise in the entire plywood production process can be seen in the scope of the delivery. Lessons learnt from the previous deliveries and Raute's presence in the Russian market also had an influence when selecting the supplier.
The present new order has no impact on Raute's outlook for 2019. Raute's net sales and operating profit for 2019 are expected to remain at the level of the previous year.
RAUTE CORPORATION
Tapani Kiiski
President and CEO
FURTHER INFORMATION:
Mr. Tapani Kiiski, President and CEO, mobile +358 400 814 148
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, LVL (Laminated Veneer Lumber) and lumber. The technology offering covers the entire production process of veneer, plywood and LVL and special measurement equipment for lumber. 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, in the Shanghai area of China and in Pullman, WA, USA. Raute's net sales in 2018 were EUR 181.0 million. The Group's headcount at the end of 2018 was 772. More information on the company can be found at www.raute.com.
MENAFN2803201900703653ID1098312884
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.