Latvijas Finieris – history and company culture

Our topic of discussion today is a company that produces and sells birch plywood products under the Riga Wood brand. It is most known for its name as Latvijas Finieris. They are officially one of the leading producer of plywood and its products in the Baltic States.

But that is not it, because they also operate in forest management, logging and synthetic resin and phenolic film production. Their story of success is truly one to get to know which is this article’s main goals. We want you to know more about this company so that is why we compiled some facts about Latvijas Finieris history and culture.

So in this article, we would like to learn more about what Latvijas Finieris is – let’s fidn out together what is its history and company culture.

About the company –what it does

So we should probably start with the basics – in this case, what does it mean to produce birch plywood products? The “Latvijas Finieris” concern is a world leader in the production and development of birch plywood products.

In very simplke terms, the company is committed to ensuring a sustainable bioeconomy and innovations. It invests a lot in the research and development of high-performance solutions. They are all, of course, based on birch plywood. Since in Latvia wood is our treasure, there is quite a lot of it.

Latvijas Finieris also supports the preservation of natural resources and biological diversity which is always great.

In 2022, Latvijas Finieris received a 39 million euro loan from the European Investment Bank (EIB) to finance investments in modernization, digitalization and environmental protection. The loan was provided from the budget of the European Union within the framework of the European Strategic Investment Fund (ESIF).

The services offered by the company are:

Management of forest properties,
Logging,
Rest and recreation,
Metalworking, woodworking equipment.

Latvijas Finieris is a company that tries to create value from birch wood and contribute to the development of the bioeconomy. It offers a wide range of plywood products for various applications such as construction, furniture, transportation, packaging, etc.

A brief history of Latvijas Finieris

The company was founded in 1992 and is located in Riga, Latvia. It has production facilities in Latvia, Lithuania, Estonia and Finland, as well as sales offices in Europe, Asia and North America. It exports 95% of its production to more than 70 countries worldwide.

The beginnings of the company can be traced back to 1873, when the woodworking company F.V. Nather opened the first plywood mill in Latvia. The company changed its name and owners several times, until in 1992 many former employees of the factory established it as a joint-stock company Latvijas Finieris.

Since then, the company has expanded its production facilities in Lithuania, Estonia and Finland, and sales offices in 12 countries. It has also invested in research and development, innovation and sustainability.

Company beliefs and values

Like every company, Latvijas Finierim also has its own values and beliefs. They form part of the company’s culture, which encourages as many people as possible not only to support the company, but also to want to work for it.

Latvijas Finieris mission and vision

The main mission of the company is to give the opportunity to build long-term relationships for buyers of products, forest owners, cooperation partners, employees of the company and other involved parties – to work responsibly, earn responsibly and invest the earnings responsibly.

The company’s vision is to be a world leader in high-performance solutions based on birch plywood products.

According to Finiera company, plywood products are and will be one of the best and most economical ways of using birch wood in industry. At the same time, other products of birch origin will also play an increasing role in the development of the bioeconomy.

Core values

The company has several values that are always at the forefront of daily work. They are safety, respect, development and entrepreneurship.

The basic values of Latvijas Finieris are:

Safety – creating a safe environment and acting sustainably,
Respect – respecting each other and promoting honesty, loyalty and trust,
Development – improving yourself and promoting the growth of others,
Entrepreneurship – to be the owners of our own work – we see, undertake and do.

Also, in order to promote the understanding of the forest industry and wood industry among the new generation, “Latvijas Finieris” organizes free excursions for students. It is a great opportunity to learn more about the company’s operations and see it in person.

A company that supports employee growth

Latvijas Finieris supports the development of its employees in various ways.

According to our research, some of the methods used by the company are:

Introduce your employees to various methods that help increase work efficiency, such as 5s, Kaizen, TPM, SMED.
Providing financial bonuses to employees who initiate and implement practical improvements in their workplace.
To offer stability, development opportunities, a motivating remuneration system and social guarantees guaranteed by the entire state.
Cooperate with educational institutions and research centers in Latvia and abroad.
Create a safe environment and act sustainably.
Respect each other and promote honesty, loyalty and trust.
To be the master of one’s own work and to see it, undertake and act, as well as improve oneself and promote the growth of others.

Latvijas Finieris is also a patron of the University of Latvia, supporting its academic and scientific activities. Also cooperates with other educational institutions and research centers in Latvia and abroad.

In general, Latvijas Finieris is a company that deserves recognition for its achievements and investment for society and the environment. It is a company that promises to deliver. In addition, in a natural way.

For more Latvian companies, read these articles:

Let us know if you’d like to learn more about Latvia’s companies!