One of Latvia's leading timber industry companies, Stiga RM, has completed structural changes, consolidating the group's companies into the joint-stock company Stiga RM Pārvaldība. The management company will take over the company's shares, becoming the main shareholder of all group companies.

The changes have been implemented to continue the rapid development of the group's companies more effectively, while maintaining the existing board composition and the speed of decision-making. The 100% owner of the joint-stock company is Andris Ramoliņš, who also holds the position of Chairman of the Board, while the Supervisory Board consists of Evija Kalniņa, Juris Ramoliņš, and Baiba Saulīte.

“Last year, despite the market downturn and industry challenges, Stiga RM managed to achieve its historically highest turnover and EBITDA figures. This would not have been possible without investments in the production of high value-added products, which allow us to withstand market fluctuations, be more competitive, as well as develop the company's operations on a larger scale and promote the increase of its value. Changes in corporate governance, by consolidating all group companies into one joint-stock company, are our opportunity to become better partners for financial institutions and gain greater support for the development of future projects, which will focus on the creation of high-value products and the modernisation of Stiga RM production facilities,” says Stiga RM Chairman of the Board Andris Ramoliņš.

Expansion of the company's management team is also expected this year – in the spring, the ranks of colleagues will be joined by the new manager of the Tukums acoustic wood panel factory, who will oversee the equipment delivery planning process and installation, so that by 2026 this modern production facility can ensure the production of high-quality, sustainable, and environmentally friendly wood products for domestic and export markets.