DNB banka Refinances Debt Obligations Faced by Latvian Wood Processing Company AS Latvijas Finieris from UniCredit Bank

DNB banka has expanded its presence in the wood processing sector by refinancing the debt obligations which the wood processing company Latvijas Finieris had in relation to the UniCredit Bank.

 

“We are delighted that there are companies with such export capacity as Latvijas Finieris, which has clients in more than 50 countries,” says the director of the DNB banka’s Manufacturing Company Division, Jānis Gaibišelis.  “Wood processing is a priority for our bank, and so we welcome our partnership with one of the leading companies in this sector.  DNB banka supports companies which are able to do their work – ones which plan long-term development and also facilitate Latvia’s export capacities.”

 

“The fundamental principle for Latvijas Finieris is stability in long-term relations,” says Latvijas Finieris board member Pauls Ābele.  “The UniCredit Bank has changed its operating strategy in the Baltic States, while the DNB banka is a major player in the Baltic and Nordic financial sector.  It has also defined wood processing as one of its target sectors in Latvia, and its work shows that this is so.  I am sure that we now have a powerful partner which will help us to develop our company further.”

 

AS Latvijas Finieris

The Latvijas Finieris company manufactures and sells birch plywood, always developing its product line and providing relevant services to its clients.  The concern also sells plate materials, engages in forestry work, and manufactures synthetic saps and phenol films.  Latvijas Finieris has operated in markets outside of Latvia for 20 years, exporting 95% of its plywood to more than 50 countries in the world.