Jun 14, 2022
In General Discussion
Swedbank and sia kurekss, one of the largest wood processing companies in latvia, have agreed to attract more than 3 million euros in financing. Kureks, a local capital company, will use the funds to india phone number list increase production capacity and also to modernize existing processes. Ia kurekss , which is engaged in timber production in tārgale parish, ventspils region, continues this year the previously started large investment cycle, during which it replaces the india phone number list old and already used production equipment with modern ones. The financing provided by swedbank in the amount of 3.3 million euros will be used for the purchase and installation of a planing line, as well as the modernization of the packaging line for finished products. According to sia kurekss board member arnis apsītis, investments in new equipment are the basis of efficient business. "By purposefully introducing new and more technologically high-value equipment into the production process, the india phone number list company is able not only to increase the volume of production, but also to shorten the time required for the production process. In addition, new equipment also requires less time to maintain or sharpen equipment, for example. Equipment is therefore very important in the sawmill business, as its performance directly affects the india phone number list quality of the products produced. "Meanwhile, ieva vīgante, head of corporate banking at swedbank, emphasizes that "It is always a pleasure to work with companies that are aware of the need to invest in the development of their business. Kureks is an example of the fact that with purposeful work and vision, it is possible to create a large-scale investment plan that pays off in the long run. In addition, the investment not only improves the quality of the india phone number list company's products, but also saves on production costs. The new equipment also gives us the opportunity to work more energy-efficiently, which is very india phone number list important for us as a bank from an environmental point of view. ” sia kurekss has been operating since 1995. The company is one of the largest sawmills in latvia, employing almost 200 people. Kureks exports 90% of its production. Since 2012, the company has invested 14 million euros in production equipment and technology alone.