We must be able to react flexibly to both good and bad changes - Zeme un valsts

We must be able to react flexibly to both good and bad changes

The parent company of the group is A/S Latvijas finieris, which is located in Riga at Bauskas iela 59. This has also long been the home of one of our production plants, Furniers. The group has a number of subsidiaries, for example, SIA Verems, which is located in the Rezekne Special Economic Zone; OÜ Kohila Vineer, a plywood production company located in Estonia; UAB Likmere, a veneer production company located in Lithuania; as well as the company Riga Wood Finland in Finland and the Sastamala factory, which also produces veneer. The resource base is almost 100% of European Union origin – logs come from Latvia, Lithuania, Estonia and Finland. However, in order for us to feel secure in the European market, we have established our own network of trading companies – there are twelve Riga Wood companies, nine of which are based in various countries in Europe, as well as one each in the USA, Turkey and Japan. Consequently, we are present in these markets and are close to our buyers. These are our employees who work exclusively for us, as opposed to other companies that work with agents or partners, for whom their own interests might still be primary. The fact that we have our own trading companies in many places around the world allowed us as a group to be there for our clients during this difficult situation when travel was not possible, because local travel, say, in France or Germany, even during the pandemic, although subject to certain restrictions, was still partly possible both in the summer and at the end of the year. This is a very significant factor for clients – that their supplier, located in North-Eastern Europe, is nevertheless close to the client and accessible.

We must be able to react flexibly to both good and bad changes

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