“OP Corporate Bank” continues its cooperation with Latvijas Finieris

[19.03.2020]

OP Corporate Bank plc Latvia Branch continues its cooperation with the largest Latvian wood industry company, Latvijas Finieris, granting a loan of 10 million EUR for a period of 5 years.

Elmars Priksans, the Head of OP Corporate Bank plc. Latvia Branch: “As the country's largest wood processing company and one of the leading exporters, Latvijas Finieris plays an important role in the Latvian economy. We are delighted to continue our cooperation and pleased that with the support of our bank, the company will achieve its goals. The funding will provide a solid foundation for the company to continue to grow despite the challenging global economy.”

According to Pauls Abele, Member of the Board of Latvijas Finieris, Latvijas Finieris continues to implement a conservative financial policy by keeping bank loan balances constant and financing from its own profits the development of the company during this period. “ The refinancing of 20 mil. EUR was planned several years ago, and despite the challenges of the European Forestry block for the last year and a half and the uncertainties caused by Covid-19 this year, we have signed two loan agreements. I would like to thank SEB bank and OP bank for their cooperation, which is based on mutual trust, respect, and a long-term perspective on the development of Latvijas Finieris!”