On 24 April 2026, one of the largest investment projects in Latvia was inaugurated in Vērēmu Rural Territory of Rēzekne Municipality – an expansion of the existing VEREMS RSEZ SIA mill of Latvijas Finieris. The EUR 100 million investment has resulted in the construction of additional premises to house new production equipment, ensuring the more efficient use of wood resources, higher productivity, and more opportunities for the development of innovative plywood products.
It is the largest investment in the establishment of a single production facility in Latgale, as well as the largest development project in the history of Latvijas Finieris. The expansion of VEREMS mill is important for the national economy as a whole, as it will provide additional exports of more than EUR 30 million annually, creating innovative bio-economy products. The mill is also an example of a sustainable approach to construction, as it is the largest industrial building in the Baltics to use wood on such a large scale, given the use of natural wood in construction.
Jānis Ciems, Chairman of the Executive Board of Latvijas Finieris:
“The development of Latvijas Finieris has always been based on long-term investments in production, technology, and infrastructure. In recent years, the company has implemented one of the most ambitious investment programmes in its history, amounting to EUR 400 million, covering both major industrial projects and many smaller improvements to production processes. This approach allows the company to maintain steady growth while flexibly adapting to the demands of international markets. The expansion of VEREMS mill is the largest investment project in the current period, which, in addition to the gradual increase in production volumes, will also have a significant impact on market dynamics – by specialising in large-format plywood, VEREMS will create additional demand and new opportunities in higher value-added product segments.”
The new VEREMS production facility is equipped with innovative modern technologies.
Māris Bumbieris, Director of Latvijas Finieris’ Iekārtu rūpnīca:
“As the Group’s centre of technical competence, Iekārtu rūpnīca was present from the very first days of the expansion project. Raute Corporation was the main supplier of the process equipment, but Iekārtu rūpnīca was involved with its own solutions as soon as the first equipment was delivered, so that the newly installed lines could operate in a single chain with the other lines. The experience gained in the Kohila Vineer expansion project was a strong and decisive argument for entrusting the installation of the VEREMS expansion project to the professional team of Iekārtu rūpnīca. Alongside the production of small assemblies and the assembly of the new lines, Iekārtu rūpnīca also demonstrated its expertise in the creation of a unique plywood putty line. Our experts designed, manufactured, supplied, and installed the large-format plywood sheet processing line themselves. Importantly, the line is currently designed for manual plywood puttying, but with the idea that once the solution for automatic puttying has been validated, it will be equipped with an automation unit, thus rebuilding the line for automatic processing with a slight modification.”
Work on the preparation of the mill expansion project started in 2017, while construction began in September 2022. The new building covers an area of 19 964 m2, which now brings the total mill area to 49 228 m2. Design works were carried out by 8 A.M., construction was carried out by CASTOR CONSTRUCTION, and construction supervision was provided by Jurēvičs un partneri.
The new production building also houses two purpose-built office blocks – one indoors, with an office, laboratory and lounge rooms, and the other outside, near the finished goods shed. It is worth noting that the new premises also use self-produced birch plywood. Plywood furniture is used in the office, laboratory and lounge rooms. And plywood road and direction signs have been installed in the mill and its territory. Plywood is also used as an auxiliary material in concrete formwork and elsewhere.
