Expanding its activity in the production of high added value products, one of Latvia’s leading companies in the wood industry, STIGA RM, is starting the construction of a new acoustic wood board factory in Tukums municipality. Today, 16 June, in the presence of Minister for Economics Ilze Indriksone, Minister for Agriculture Didzis Šmits, Chairman of Tukums municipality Council Gundars Važa, as well as the management team of STIGA RM, a time capsule was embedded on the base of the future production building.
“Today we celebrate not only the start of a new construction phase, but also a significant step forward in the development of Latvia’s high-value industry. The factory will open in 2026, ensuring the production of high-quality, modern, sustainable and environmentally friendly wooden products for the domestic and export markets. It will be a place for the creation of added value and the realisation of safe ideas – a modern and powerful factory of wood wool acoustic panels,” emphasises Andris Ramoliņš, owner of STIGA RM.
Investments in project implementation will total more than EUR 30 million, nearly half of which will be covered by STIGMA RM from its own funds, 11.1 million from an OP Corporate Bank loan and EUR 4.5 million from state co-financing ALTUM.
“Every new business project demonstrates our entrepreneurs’ desire to encourage investment in the Latvian economy. The Ministry of Economics developed a new support programme for large investment projects to encourage entrepreneurs in Latvia to implement knowledge-intensive projects and create products with high added value. It is a pleasure that businessmen pay attention to this support in order to make investments in the development of new products and the implementation of technological processes, to collaborate with local small businessmen and to create new jobs. This is important for the further development of our national economy,” says Minister for Economics Ilze Indriksone.
As a result of the project, a production building of nearly 15 thousand square metres will be built, along with adjacent infrastructure, creating more than 100 new, well-paying jobs.
“I am pleased that Latvia continues to increase the value of its most valuable natural resource, wood. The start of construction of a new acoustic panel factory will be a significant step in the future development of the Latvian wood industry, as will the continued introduction of innovative technological solutions based on ensuring environmental sustainability. Furthermore, companies of this type not only contribute to the development of Latvia’s economy, but also help to ensure prosperity and employment for our citizens. I wish you luck with the factory construction and a quick start-up of production!” adds Didzis Šmits, minister for agriculture.
“We, the Tukums municipality Council, are very happy and proud of every entrepreneur who operates in our region’s territory. Andris Ramoliņš, owner of STIGA RM, has been dreaming about this project for several years, and his dreams are finally coming true. The opening of this factory will provide our residents with the opportunity to work in modern, highly automated working conditions. Furthermore, the fact that our entrepreneurs can compete with entrepreneurs from neighbouring countries demonstrates the project’s and, more specifically, STIGA RM’s high ambitions. We wish you good luck in your future work and projects,” wished Gundars Važa, Chairman of Tukums County Council.
Acoustic wood wool cement boards will be produced in the factory, which is a material that is friendly to people and the environment, CO2 neutral and made from natural materials – wood wool and cement. It has several functional properties, including sustainability, high-quality sound and heat insulation, fire safety, suitability for a variety of decoration and design solutions, and natural durability. Because of the material’s benefits, it has been widely used in many parts of the world, and more than 90% of the produced products are planned to be exported to Scandinavia, Europe, the Middle East and North America.
About STIGA RM:
STIGA RM is a family company from Tukums, founded in 1994 with the goal of protecting Latvia’s prosperity through responsible forest management. The company manages the full cycle of forest management on its more than 10,100 hectares of land, the majority of which is forest land, using the principles of sustainable forest management. STIGA RM’s factory in Kuldīga produces birch plywood from high-quality Latvian birch wood. The company also offers roundwood transportation services, providing the largest fleet of log trucks in the Baltic and Scandinavian countries.